HomeCommentRiver Ranch mine denies fall-out with Mujurus

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A spokesperson for Rani Investment, the majority shareholder in Limpopo Resources which owns River Ranch Mine, also denied in a statement allegations that his company was anti-indigenisation.

Limpopo Resources owns 80% of River Ranch diamond mine in which Mujuru’s family holds a 20% stake through Khupukile Resources, whose directors are former Zanu PF legislator Tirivanhu Mudariki and Mujuru’s daughter, Nyasha Mujuru del Campo.

The spokesperson for the company said the relationship between Mujuru and Aujan has always been “one of friendship and mutual respect”.

“The sad demise of the general came as a shock to us, as it did to everyone who knew and respected him,” he said.

However, documents seen by the Zimbabwe Independent reveal that Mujuru and Aujan clashed at Victoria Falls in May last year over the mine.

In a letter to Aujan dated January 30 2012, Mudariki said: “Adel, taking cognisance of the fact that in Victoria Falls last year you parted with the General on a bad note and indeed a lot of senior officials in both the party and government are aware of this… do not rub on the wounds of the Mujuru family in their time of mourning.”

Mujuru died in a mysterious fire in August at his Alamein Farm in Beatrice.

He died the night before he was due to travel to Beitbridge with Indigenisation minister Saviour Kasukuwere to present an indigenisation plan for River Ranch, which included a 45% shareholding for Khupukile Resources.

According to the indigenisation plan, Rani Investment was to remain with 39% shareholding, while 10% would have gone to the community trust and 6% to the mine workers — which Rani Investment rejected.

Kasukuwere had initiated the plan after writing to Rani Investment ordering the company to comply with the indigenisation policy. But Rani Investment did not re-submit its provisional indigenisation implementation plan.

However the spokesperson denied this saying: “Rani Investment has always acted within the laws of the country. It has always addressed the requirements of all governmental authorities with the utmost respect.

“Our interaction with the Ministry of Indigenisation has always been in the spirit of the dialogue and mutual understanding and in ensuring we comply with Zimbabwe’s Indigenisation and Economic Empowerment Regulations within the stated timeframes.”

He said Rani Investment had only decided to sell its interest in River Ranch because of a need to refocus its financial and management resources on its core business in Zimbabwe and southern Africa, which is within the tourism and hospitality sector. 

“After more than three months of discussions and the lapse of the mutually-agreed deadline, the minority shareholder had not managed to make an offer for Rani Investment shares. As a result, the company decided to offer its shares to the government of Zimbabwe.”


He added: “The company believes the government of Zimbabwe is ideally suited to manage the mine in the best interests of the country.”

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