Zimbabwe President Facing Opposition on Diamond Decision

Reuters reported that a Zimbabwe court has ordered the country’s government to let the largest diamond miner in the Marange fields take control of its assets there. President Robert Mugabe recently nationalized all diamond operations in the country, and the court’s move defies his orders.
As quoted in the market news:

Mugabe on Thursday said his government would take possession of all diamond operations because existing miners had robbed the country of its wealth.
It is the second time this week that High Court Judge Joseph Mafusire has ordered the government to let security personnel from Mbada Diamonds to have access to all the company’s assets in Marange.
Mafusire made the same ruling on Monday after Mbada challenged the decision by the mines minister to order companies in the diamond fields in the east to stop mining and leave because their licences had expired.
The court is to decide on whether companies can resume mining operations at a hearing set for March 8.
The judge said the government’s failure to comply with his first ruling was “wilful and deliberate” and he warned that he would rule in Mbada’s favour on March 8 if the government did not comply with his latest order.

Click here to read the full Reuters report.