OVER a million carats of diamonds left by Core Mining and Mineral Resources after the termination of its joint venture with Marange Resources cannot be accounted for by the Zimbabwe Mining Development Corporation (ZMDC).
REPORT BY CHARLES LAITON
This was revealed yesterday by ZMDC board member Ashton Ndlovu while being cross-examined by Core Mining director Lovemore Kurotwi’s lawyer Beatrice Mtetwa.
Ndlovu also told High Court judge Justice Chinembiri Bhunu that he did not know the whereabouts of close to $3,5 million which was due to be paid to Core Mining as dividends when it was in partnership with Marange Resources.
It also emerged that Core Mining’s partnership with Marange Resources to form Canadile Miners was not decided by the ZMDC, but the board was merely informed by Mines minister Obert Mpofu.
Ndlovu also told the court that Core Mining equipment was still being used to mine diamonds at Chiadzwa. He said he was not aware if any fees were being paid by the government for the use of the equipment.
Justice Bhunu also heard that the State’s assertion that Kurotwi and his co-accused former ZMDC chief executive officer Dominic Mubaiwa caused the government a $2 billion potential prejudice was not correct. Mubaiwa said according to his recollection, the $2 billion figure was later reviewed after negotiations and it was finally agreed that Core Mining would inject $1 billion into the joint venture within an eight-year lifespan of the project.
On Monday, chief law officer Chris Mutangadura told the court that South Africa’s Ministry of Justice and Constitutional affairs had approved the inspection in loco which the State intended to carry out in that country. But Kurotwi filed an objection against the granting of the inspection arguing his diamond firm was seized by the government.
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Mtetwa said as far as Core Mining shareholders in South Africa were concerned, no due process was followed in bringing to an end their partnership with Kurotwi.
