Nov 6, 2010 11:19 AM by AP

Zimbabwe government takes over mining

HARARE, Zimbabwe - Zimbabwe's government says it is taking over a joint mining venture after allegations its private partners are dealers of blood diamonds.

Goodwills Masirembwa, chairman of the state-owned Zimbabwe Mining Development Corporation, said Saturday all 12 directors of a company called Core Mining have been banned from doing business in Zimbabwe because of accusations they dealt in blood diamonds and were involved in African civil wars.

Core put up $1.5 million last year to enter into a partnership with Masirembwa's corporation.  Masirembwa says the company never came up with the rest of a promised $2 billion and never explored or mined in the Chiadzwa diamond fields in eastern Zimbabwe.

Attempts to reach Core directors were not immediately successful.


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