{"id":9672,"date":"2012-04-05T15:51:55","date_gmt":"2012-04-05T13:51:55","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-zimbabwe-says-now-owns-51-pct-of-foreign-miners\/"},"modified":"2012-04-05T15:51:55","modified_gmt":"2012-04-05T13:51:55","slug":"update-1-zimbabwe-says-now-owns-51-pct-of-foreign-miners","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-zimbabwe-says-now-owns-51-pct-of-foreign-miners\/","title":{"rendered":"UPDATE 1-Zimbabwe says now &quot;owns&quot; 51 pct of foreign miners"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Not clear which firms are being targeted hammer will fall<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Cash-strapped Harare afford to pay for stakes<\/p>\n<p><span><\/span><\/p>\n<p>By Nelson Banya<\/p>\n<p><span><\/span><\/p>\n<p>HARARE, April 5 (Reuters) &#8211; Zimbabwe&#8217;s government raised the<br \/>\nstakes on Thursday in its drive to wrest majority control of<br \/>\nforeign mining companies, with a minister saying the state now<br \/>\nconsidered it owned 51 percent of firms that have not complied<br \/>\nwith local ownership laws.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;All mining companies that have not complied &#8230; should note<br \/>\nthat 51 percent of their shareholding is now deemed to be owned<br \/>\nby the state,&#8221; empowerment minister Saviour Kasukuwere said in a<br \/>\nstatement.<\/p>\n<p><span><\/span><\/p>\n<p>It was not immediately clear which firms were being<br \/>\ntargeted, or whether President Robert Mugabe&#8217;s cash-strapped<br \/>\ngovernment planned to pay for the shares. Kasukuwere did not<br \/>\nrespond to requests for clarification.<\/p>\n<p><span><\/span><\/p>\n<p>The demand for foreign companies, particularly miners, to<br \/>\ntransfer a 51 percent stake in local operations to black<br \/>\ninvestors is widely seen as a tactic by Mugabe&#8217;s ZANU-PF party<br \/>\nto raise cash for elections that may come this year.<\/p>\n<p><span><\/span><\/p>\n<p>Johannesburg-listed Impala Platinum, the world&#8217;s<br \/>\nsecond-biggest platinum producer, bowed to pressure last month<br \/>\nto surrender half its Zimplats unit, although details<br \/>\nof the transfer have not yet been worked out.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts said this latest broadside from Kasukuwere might be<br \/>\nmore bluster than fact.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Not clear which firms are being targeted hammer will fall * Cash-strapped Harare afford to pay for stakes By Nelson Banya HARARE, April 5 (Reuters) &#8211; Zimbabwe&#8217;s government raised the stakes on Thursday in its drive to wrest majority control of foreign mining companies, with a minister saying the state now considered it owned [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9672","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9672"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9672\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}