Court says companies can seize Zimbabwe mining assets
Amari Holdings’ firms have won the right to seize assets in compensation for Zimbabwe Mining Development’s cancellation of certain ventures
18 December 2019 - 12:41
Harare/Johannesburg — 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 won the right to seize assets worth $65.9m in compensation for Zimbabwe Mining Development’s (ZMDC) 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...
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