Zimbabwe debt woes grow as State mining firm faces asset seizure
A State-owned Zimbabwean mining firm is trying to protect assets that risk being seized because the country failed to honour a debt incurred when it lost an international arbitration case over cancelled nickel and platinum ventures. The Zimbabwe Mining Development Corp. has asked the Mines Ministry for a resolution to a longstanding dispute with a unit of Amaplat Mauritius that is laying claim to the assets, a letter written by the company’s Chairman Paul Chimboza to Mines Minister Winston Chitando shows.
A State-owned Zimbabwean mining firm is trying to protect assets that risk being seized because the country failed to honour a debt incurred when it lost an international arbitration case over cancelled nickel and platinum ventures. The Zimbabwe Mining Development Corp. has asked the Mines Ministry for a resolution to a longstanding dispute with a unit of Amaplat Mauritius that is laying claim to the assets, a letter written by the company’s Chairman Paul Chimboza to Mines Minister Winston Chitando shows.
