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Zimbabwean court allows one company to resume control of assets
Mbada Diamonds has been permitted by the court
By: Diamond World News Service
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Mar 3 2016 8:46AM
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Reference: 12752  

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Pursuant to the government of Zimbabwe ordering mining companies in Marange to close shop immediately, a court in Zimbabwe has permitted one company, to take control of its assets, as per reports. The said company is Mbada Diamonds, a joint venture between the government and Mauritius-registered Grandwell Holdings, as per reports.

The government had ordered the nine companies operating in Marange to leave owing to expiration of their license.

Mines Minister Walter Chidhakwa plans to appeal the decision through the Attorney General, and stands firm on the decision of the government. Mbada is seeking that the court remove the ministry of mines from its concession and force the government to renew its license, as per reports.

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