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Vol 5 (AAC) No 11

Published 1st September 2012


Zimbabwe

Welshman Ncube

Minister of Industry and Commerce, Zimbabwe

Industry and Commerce Minister Welshman Ncube appears to have cleared the hurdles blocking the rehabilitation of the Zimbabwe Iron and Steel Company. India's Essar Africa Holdings agreed in March 2011 to buy majority stakes in ZISCO for US$750 million, but progress stalled as the government and Essar rowed over the valuation of ZISCO's mineral rights. After tortuous negotiations led by Ncube, the deal looks set to go ahead at last after President Robert Mugabe returns from the Non-Aligned Movement summit in Iran in early September.

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