{"id":32434,"date":"2021-01-09T21:12:55","date_gmt":"2021-01-09T19:12:55","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=32434"},"modified":"2021-01-09T19:06:08","modified_gmt":"2021-01-09T17:06:08","slug":"govt-says-it-will-use-mining-profits-to-compensate-white-former-farmers","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/govt-says-it-will-use-mining-profits-to-compensate-white-former-farmers","title":{"rendered":"Govt Says It Will Use Mining Profits To Compensate White Former Farmers"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>The government plans to use profits from a mining venture to help settle a US$3.5 billion compensation claim from white former farmers who were forcibly removed from their land during the chaotic land acquisitions at the turn of the Millenium.<\/p>\n

Kuvimba Mining House Ltd., of which the government owns 65%, intends to raise $1 billion for acquisitions and capital expenditure.<\/p>\n

The company\u2019s Chief Operating Officer David Brown said they will invest a \u201csignificant amount\u201d of the cash raised on the Darwendale platinum project, which belongs to Kuvimba\u2019s Great Dyke Investments unit.<\/p>\n

Great Dyke is partially owned by Russian investors and the government is wooing investors from as far afield as Russia, Cyprus and Nigeria to try and develop new mines.<\/p>\n

In a recent interview with Bloomberg, Finance and Economic Development Minister Mthuli Ncube said proceeds from Kuvimba will\u2026<\/p>\n

\u2026 be used to compensate the former white commercial farmers who lost their farms in 2000.<\/p>\n

In addition to compensating White farmers, profit from Kuvimba will be used for pension payments that are in arrears, Ncube said.<\/p>\n

Kuvimba means \u201ctrust\u201d in the language of Zimbabwe\u2019s biggest ethnic group, the Shona.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. The government plans to use profits from a mining venture to help settle a US$3.5 billion compensation claim from white former farmers who were forcibly removed from their land during the chaotic land acquisitions at the turn of the Millenium. Kuvimba Mining House Ltd., of which the government owns 65%, intends to […]<\/p>\n","protected":false},"author":84,"featured_media":32433,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,2432,2433,807,2430,2431,19],"class_list":{"0":"post-32434","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-compensation","14":"tag-farmer-compensation","15":"tag-mthuli-ncube","16":"tag-white-farmers","17":"tag-white-former-farmers","18":"tag-zimbabwe"},"yoast_head":"\nGovt Says It Will Use Mining Profits To Compensate White Former Farmers - zimbabwe<\/title>\n<meta name=\"description\" content=\"The government plans to use profits from a mining venture to help settle a US$3.5 billion compensation claim from white ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-says-it-will-use-mining-profits-to-compensate-white-former-farmers\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Says It Will Use Mining Profits To Compensate White Former Farmers\" \/>\n<meta property=\"og:description\" content=\"The government plans to use profits from a mining venture to help settle a US$3.5 billion compensation claim from white ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-says-it-will-use-mining-profits-to-compensate-white-former-farmers\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-09T19:12:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-09T17:06:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/01\/img-5ff9e25a95747.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-says-it-will-use-mining-profits-to-compensate-white-former-farmers\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-says-it-will-use-mining-profits-to-compensate-white-former-farmers\",\"name\":\"Govt Says It Will Use Mining Profits To Compensate White Former Farmers - 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