The country was losing billions in revenue due to agreements favouring China, Minister of State Jameson Timba said in a recent speech at the Robert F. Kennedy Centre for Justice and Human Rights.
Anjin owns 90% of the company with the Zimbabwe Mining Development Corporation taking only 10%. Timba said Harare gave the Chinese a massive shareholding in the company to offset a $500 million debt for arms of war supplied by the Chinese government. “I admit that as a party we lost the war on diamonds,” Timba said. “The companies continue to hide behind the sanctions issue saying America will trace our money since the ZMDC is on the targeted measures list.”
He said his party was not happy with some of the deals entered into between Harare and foreign investors in Marange, adding they will all be revised when the MDC gets full control of the government.
The Centre’s Advocacy Officer Jeffrey Smith questioned the use of the armaments, saying: “Zimbabwe faces no external threats so clearly so clearly those are going to be used against the people of Zimbabwe as instruments of violence.”
Post published in: News