The Zimbabwe Mining Development Corporation said it could not source financing offshore to develop its chrome and platinum operations because of sanctions imposed on the company by the European Union and the United States. The EU lifted sanctions on 81 individuals and 10 companies this moth but not on the ZMDC. “In the short term market, interest rates in the country are high, and with sanctions in place, ZMDC has challenges in borrowing from international institutions,” ZMDC chief Jerry Ndlovu said.
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