Loading ...Zimbabwe faces mining-asset seizure over canceled joint ventures
Zimbabwe, which is banking on investment in its natural resources to arrest an economic free-fall, faces having the assets of the state mining company seized after a final appeal of a 2014 arbitration ruling failed.
Companies linked to British Virgin Islands-based Amari Holdings Ltd. won the right to seize assets worth $65.9 million in compensation for Zimbabwe Mining Development Corp.’s cancellation of nickel and platinum ventures formed in 2007 and 2008. The ruling by the International Court of Arbitration was made after a hearing in Lusaka, Zambia.
Zimbabwe faces mining asset seizure over canceled joint ventures