China takes over Zimbabwe mines

China has further tightened its grip on Zimbabwe mines after Chinese mining giant China Jiangxi Corporation for International and Technical Cooperation (CJIC) announced plans to form a joint venture company with the Zimbabwe Mining Development Corporation (ZMDC) to mine chrome in Zimbabwe.

The CJIC has agreed to bankroll the development of two chrome mines.

The mines are reportedly being developed – one in the Midlands and the other in Zambezi Valley – both owned by ZMDC.

Posted by Wellington Chadehumbe on August 9, 2008. Filed under Financial News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.