Vumbachikwe Mine, owned by Duration Gold in Gwanda, faces potential corporate rescue due to $10M debt and insolvency claims.

Vumbachikwe Mine, owned by Duration Gold and located in Gwanda, faces potential corporate rescue as some creditors claim the firm is heading towards insolvency. The mine owes creditors, including workers, Zimbabwe Revenue Authority, and Zesa Holdings, over $10 million. Creditors have initiated the process of placing Vumbachikwe Mine under corporate rescue in accordance with the Insolvent Act 2018.

May 09, 2024
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