To: SunkenCiv; Clive
The sector has virtually shut down as miners cannot fund operations, senior Zimbabwe chamber of mines official Douglas Verden told Reuters.
At its peak, Zimbabwe produced more than 2 400 kg of gold monthly, but miners, who are owed millions of dollars by the central bank and have to cope with the world’s highest inflation rate above 231 million percent, have ground to a halt.
http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-25_2429845
2 posted on
11/20/2008 12:09:30 PM PST by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: thackney; Fred Nerks
Apart from funds owed by the central bank, Zimbabwean miners are plagued by frequent power cuts, the flight of skilled labour and foreign currency shortages.
4 posted on
11/20/2008 12:10:18 PM PST by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
At its peak, Zimbabwe produced more than 2 400 kg of gold monthly, but miners, who are owed millions of dollars by the central bank and have to cope with the worlds highest inflation rate above 231 million percent, have ground to a halt.Are they saying that people won't work when they're not being paid in currency that's worthless anyway? Who'd a thunk it?
13 posted on
11/20/2008 12:18:26 PM PST by
Stentor
(b. July 4, 1776 - d. January 20, 2009 sorely missed.)
To: george76; blam; Cincinatus' Wife; sarcasm; happygrl; Byron_the_Aussie; robnoel; GeronL; ZOOKER; ...
20 posted on
11/20/2008 12:58:17 PM PST by
Clive
To: george76; AdmSmith; Berosus; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...
24 posted on
11/20/2008 3:04:10 PM PST by
SunkenCiv
(https://secure.freerepublic.com/donate/_______Profile finally updated Saturday, October 11, 2008 !!!)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson