Zimbabwe Government Accuses De Beers Of Plunder

AllAfrica.com reported Zimbabwe government has accused De Beers of plundering the country’s diamonds during its exploration activities at the Marange fields.

As quoted in the market news:

It was far much unlikely, analysts argued, that US$650 million would flow into government coffers from the industry this year.

The reasons vary from widespread pillage of the resource by the ruling elite to massive concentration of ownership in the hands of foreign firms, but the results are disturbing because nobody, including Biti, seems to understand where the diamond cash is going.

Click here to read the full AllAfrica.com report.