Essar’s Zimbabwe Steel Delayed by License Error, Herald Says

Essar Africa Holdings Ltd. hasn’t taken full control of New Zimbabwe Steel (Pvt) Ltd. and New Zimbabwe Minerals (Pvt) Ltd. because of a dispute over a mining license, the state-run Herald said, citing Industry Minister Welshman Ncube and Deputy Mines Minister Gift Chimanikire.

A mining license was erroneously allocated to a former New Zimbabwe Steel employee, the Harare-based Herald reported on its website. The license relates to an area in the Mwanesi iron ore deposit, the country’s biggest, the newspaper said.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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