Thursday, 24 November 2005

Oh Joy

From the Guardian :
President Robert Mugabe has said Zimbabwe will process recently discovered uranium deposits in order to resolve its chronic electrical power shortage, state radio said Sunday.

Mugabe, who has close ties with two countries with controversial nuclear programs, Iran and North Korea, made the announcement Saturday, the radio station reported.

It was not clear how Mugabe intended to use any uranium deposits since the country does not have a nuclear power plant.
"Zimbabwe will develop power by processing uranium, which has recently been found in the country," the radio quoted Mugabe as saying.

"The discovery of uranium will go a long way in further enhancing the government rural electrification program," he was quoted as saying.
Zimbabwe has been plagued by a chronic shortage of foreign exchange since Mugabe's seizure of 5,000 white owned farms and the collapse of an export-oriented agricultural industry. It currently has a daily 400 to 450 megawatt generation shortfall on requirements of 2,100 megawatts.

Zimbabwe has had great difficulty meeting bills from Mozambique, South Africa and Congo for imports from the regional electric power grid.
North Korea is one of the few places which have even less foreign currency reserves than Zimbabwe. But Iran, on the other hand...

Of course, the news could be even better. Perhaps Zimbabwe will be given access to nuclear technology, rather than foreign exchange.

Pardon me if I'm less than enthused at this piece of news.

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