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February 15, 2013

#Zimbabwe: A New Constitution May Pave the Way For Elections

The fate of the country's #mining industry, its chief export, partly depends on who gains power.

Zimbabwe requires any foreign company with assets in Zimbabwe valued over $500,000 to sell a 51 percent stake to local Zimbabweans 

Furthermore, the Zimbabwean ruling party has given platinum miners a two-year deadline to bring platinum processing and refinery plants to Zimbabwe -- under indigenous Zimbabwean ownership -- instead of processing the raw ore in neighboring South Africa.

Refining platinum is an energy-intensive process, and Zimbabwe sorely lacks adequate electricity infrastructure.

In late 2012, the Movement for Democratic Change unveiled a new economic plan that would reverse these policies. The Mugabe regime immediately rejected the plan.

The government does not want to antagonize what foreign investment there is in Zimbabwe. In any case, [resource nationalism] are significant tools to raise voter support.
Read the whole piece here:

Zimbabwe: A New Constitution May Pave the Way For Elections

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