Zimbabwe Debt Woes Grow as State Mining Firm Faces Asset Seizure
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A state-owned Zimbabwean mining firm is trying to protect assets that risk being seized because the country failed to honor a debt incurred when it lost an international arbitration case over canceled nickel and platinum ventures.
The Zimbabwe Mining Development Corp. has asked the Mines Ministry for a resolution to a longstanding dispute with a unit of Amaplat Mauritius Ltd. that is laying claim to the assets, a letter written by the company’s Chairman Paul Chimboza to Mines Minister Winston Chitando shows.