Zimbabwe News: Sanctioned Tycoon Kudakwashe Tagwirei May Be Tied to Mines
In December, the government of Zimbabwe announced a multibillion-dollar project called Kuvimba Mining House Ltd. that would hold some of the nation’s most valuable gold, platinum, chrome and nickel mines and whose revenue would be used to revive the country’s moribund economy.
The venture would be 65% owned by the government and 35% by private investors, Finance Minister Mthuli Ncube said in a January interview, predicting it would be “highly profitable” within two years. President Emmerson Mnangagwa said in December the venture will help “in unlocking the inherent richness and value of our country’s mineral deposits,” according to the state-controlled Herald newspaper.
The announcement was met with skepticism among local journalists and some industry analysts. Decades of graft and economic turmoil have left once-prosperous Zimbabwe a ruined state. The country has…