Vumbachikwe Mine property to go under the hammer tomorrow over outstanding salaries


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Mining equipment worth thousands of dollars belonging to the Duration Gold’s Vumbachikwe Mine is set to go under the hammer tomorrow over outstanding salaries and remittances.

In a notice, the Bulawayo High Court Deputy Sheriff said it would be selling the company’s movable assets at a public auction to be held in Gwanda town tomorrow.

Mining equipment such as tractors, graders, front-head loaders, among other properties would be auctioned in a case pitying the Gwanda mine with National Mine Workers’ Union of Zimbabwe.

Duration, the Zimbabwe focused private gold miner and explorer is majority-controlled by British-based Clarity Capital, which owns Vumbachikwe, one of the oldest gold mines in the country, having been in operation since 1904.

In January this year, the country coordinating project manager, Ollie Iversen said that the miner expects a modest increase in bullion output to 14 400 ounces of gold this year up from the 12 850oz realised in 2014.

Last year the mine was forced to close down for two weeks for failing to abide by an Environmental Management Agency order to line the carry at its dumps and for failing to settle $55 000 in fines.

The mine was also forced to temporarily suspend operations early this year due to non-payment of Zimbabwe Electricity Supply Authority bills and was petitioned by National Mine Workers’ Union of Zimbabwe over outstanding union dues they are supposed to remit every month.-The Source

(33 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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