Business

Redwing was placed under corporate rescue in July 2020 after the Associated Mine Workers Union of Zimbabwe (AMWUZ) filed an application on the grounds that the company was financially distressed, among other reasons.

The Constitutional Court in 2016 ordered Vodacom to pay their former accountant for coming up with the concept. Protracted negotiations ensued between the two parties, but failed to reach a settlement.

Diesel now costs $168.17 per litre up from $149.55 while blend is now at $152.87, according to a statement by the regulatory authority.

The mine obtained SAZ certification for successfully using internationally recognized management procedures.

The Zimbabwe dollar has been fast losing value against the greenback, trading at anything upwards of $230 against $116 on the central bank’s controlled auction system.