Zimbabwe News and Internet Radio

Metallon Gold to lose property

By Cletus Mushanawani

Zimbabwe’s largest gold producer, Metallon Corporation, is set to lose some of its property which will go under the hammer on July 19. The property belongs to the Goldfields of Mazowe and Shamva.

Metallon Gold
Metallon Gold

The company, which placed some of its mines under care and maintenance, is reeling under mounting debts which it owes to suppliers and employees.

Bindura Messenger of Court, Mr Fanny Musimwa, confirmed the dates of the auction and said:

“We are not allowed to comment on the public auction as we are expected to be impartial. We are not parties to the process and you can rely on what is contained in the flighted advert.”

According to a notice published in the Press on Tuesday last week, Metallon is set to lose various properties running into thousands of dollars.

Read the notice: “The Messenger of Court Bindura shall sell by public auction the following properties to the highest bidder at the MOC offices along Trojan Road, Bindura.”

Among the companies that were listed to have been owed by Metallon Corporation are Croco Motors, Jonkershoek Trading (Pvt) Limited and an individual, Mr Byron Chavhaira.

The company is set to lose steel cables, water pumps, inverter boxes, air conditioners, armoured cables, window frames, door frames, miller welding machine, air conditioners, electric motors, solar panel, CCTV system and desks, among other assets. The Herald

Comments