Zimbabwe to sell shares in Mines

Zimbabwe has offered to sell shares, primarily in gold mines which have been failing due to mismanagement. Confidence would be low in this region. Trust in the government would also be extremely low from outside investors as to the ability to turn around a mine without substantial oversight. Patrick Chinamasa, the Minister of Finance said government ministries would present privatisation plans to cabinet for each entity within 100 days, .The country nationalised a massive diamond mine in 2008 and has the possibilities of a major lithium discovery according to Reuters (https://af.reuters.com/article/investingNews/idAFKBN1FQ1CZ-OZABS): "To lure foreign investment into a mining sector that he says is under-capitalised and under-explored, Chitando has announced changes to mining laws, limiting indigenisation rules that mandate majority ownership for the state to just diamonds and platinum."
Even instituting regulations and laws in this country would require extreme caution and trust. Zimbabwe like South Africa are falling apart despite massive mining possibilities....and so the cycle continues.



​http://www.mining.com/web/zimbabwe-sell-shares-state-owned-firms-part-reforms/