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Zimbabwe probing Rio Tinto over 2015 stake disposals in local mines

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Zimbabwe probing Rio Tinto over 2015 stake disposals in local mines

The Zimbabwean government is probing Rio Tinto's exit from the country when it its two holdings in June 2015, The Herald (Zimbabwe) reported April 7, citinga senior government official.

The government is seeking to verify "the manner in whichthe shares changed hands," mines and mining development deputy minister FredMoyo said during a question-and-answer session in the National Assembly.

The mining giant sold its 78% interest in Murowa Diamonds (Pvt.) Ltd. and its 50% interest in to

Murowa Diamonds operated the Murowa diamond mine, while Sengwa Colliery held the feasibility-stageSengwa coal property,both located in the Midlands province.

RioZim Ltd.held the remaining interests.

The news comes amid increasing uncertainty surroundingthe country's diamond mining industry.