The Zimbabwe government says it is investigating Rio Tinto’s disposal of its Murowa Diamonds amid revelations the mine had been sold to foreign buyers and not locals as previously announced.
Deputy mines minister Fred Moyo confirmed the probe.
“The shares were actually held offshore. We are still investigating to verify the manner in which the shares changed hands outside the country,” Moyo said.
Rio Tinto, formerly based in Canada but now based in a tax haven, disposed of its 78 percent shareholding in Murowa early in 2016. It was announced that the shares were sold to RioZim, which is controlled by black Zimbabweans but this has since been disproved by investigators.
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