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Zimbabwe´s largest platinum mine
agrees to sell shares to gov´t under
black empowerment laws

Associated Press, by Staff

Original Article

Posted By:LittleHoodedMonk, 1/11/2013 1:01:47 PM

Harare, Zimbabwe - Zimbabwe´s largest platinum mining company says it has signed a deal to sell off its majority shareholding to the government as part of the country´s black empowerment laws. South African-owned Zimplats chief Terence Goodlace said Friday the sale, worth $971 million, was "non-binding" until the end of June when the Zimbabwe government must pay $153 million for what he called a "release of ground agreement" and meet other obligations. It is the biggest handover in several years of an empowerment program to force foreign-owned mines to cede 51 percent control to black

Comments:
Worth only $971 million, this platinum mine, now black owned, is not even close to being able to mint a $1T 0bama coin.

      


Post Reply  

Reply 1 - Posted by: GOPJihad, 1/11/2013 1:12:09 PM     (No. 9110994)

"Nice platinum mine you´ve got here. . ."

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Reply 2 - Posted by: Johnny Angle, 1/11/2013 1:17:31 PM     (No. 9111012)

They can make a lot of dough as a supplier for those trillion-dollar American coins.

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Reply 3 - Posted by: civilservant, 1/11/2013 1:21:37 PM     (No. 9111021)

People are missing this opportunity........with typical African efficiency in place, production will plummet and prices wil skyrocket!!
Buy today!!!

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Reply 4 - Posted by: Mass Minority, 1/11/2013 1:57:28 PM     (No. 9111115)

Anybody catch this part

"The mining enterprise will lend Zimbabwe the money to buy the majority stake..."

So not only are they forced to give up 51% of their business they must also give the government the money required to "buy" the mine as well? Does anybody think that this deal would have been done under anything but a coercove abuse of power?

.

In two years expect the 49% owners to be hauled in front of a tribunal for crimes against the government because the mine no longer turns a profit. All the workers just lay around doing nothing while what little platinum actually dig up mysteriously disappears each month when the government "inspectors" show up.

Thats like being forced to "rent" out half your house to unemployable convicted felons and then sending yourself the bill so you can pay it. All the while watching as the freeloaders steal everything that isn´t nailed down and then getting sued because there is nothing left for the "renters" to steal.

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Reply 5 - Posted by: veritas, 1/11/2013 2:04:21 PM     (No. 9111136)

It is a disgrace that civilization stood by and watched [abetted?] the bloody regression of Rhodesia to the more or less Stone Age under Mugabe´s black rule.

"The only thing worse than colonialism is what came after."
~~ V.S. Naipul

Which was, we now know, much worse....

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Reply 6 - Posted by: enemyofthestate, 1/11/2013 2:24:21 PM     (No. 9111179)

Think it can´t happen here in the U.S. under 0bamunism?

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Reply 7 - Posted by: OhMy, 1/11/2013 2:30:02 PM     (No. 9111193)

Perhaps those 100 Trillion dollar bank notes from the Reserve Bank of Zimbabwe will be worth something after all when they dig up enough platinum to mint those 20 thousand pound trillion dollar coins with the face of Obama on it.

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Reply 8 - Posted by: Pearson365, 1/11/2013 3:22:50 PM     (No. 9111286)

With 4 more years of Obama, our sister country will be Zimbabwe.

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Reply 9 - Posted by: masscon, 1/11/2013 4:00:25 PM     (No. 9111346)

Reparations

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Reply 10 - Posted by: Blackeagle, 1/11/2013 5:45:50 PM     (No. 9111504)

Seems that this mine was developed in the 1990s - well after it became clear that Mugabe was what he was. So there should have been no surprises.

It also appears that ´´Zimbabwe is one of the world´s largest producers of platinum.´´ means very little as it´s current production makes up less than one percent of the world´s supply. Reserves are substantial however - but folks are probably waiting it out until Mugabe dies.

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