Anglo American, the London-based mining giant, is to make what is believed to be the largest foreign investment in Zimbabwe to date, just as the British Government puts pressure on companies to withdraw from the country.
Anglo will invest $400 million (£200 million) to build a platinum mine in Zimbabwe — a move that has raised concern among some of the company’s shareholders and been condemned by politicians.
The Foreign Office was investigating tonight whether the company’s investment breached sanctions against Zimbabwe. Anglo insisted that its involvement in the country did not break the law.
The decision, which was criticised roundly as likely to give succour — and possibly money — to the Mugabe regime, is in stark contrast to the policy of nearly all other main British corporations in Zimbabwe. They are either withdrawing from the country or waiting for Mr Mugabe to be deposed before expanding their businesses.
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H/t to Terry Glavin.