HomeNewsCourtsCourt auctions Sabi Mine property

Court auctions Sabi Mine property

-

THE recently-attached Sabi Mine property went under the hammer in Gweru on Thursday to recover unpaid debts.

ALLIEWAY NYONI
OWN CORRESPONDENT

The mine’s 75-seater AVM bus was sold for $16 000 while a new Toyota Hilux ambulance went under the hammer for only $6 000.

Another 65-seater UD Caio bus that had already been repossessed by Duly Motors over an unpaid service charge is expected to be auctioned together with the remaining property that include lorries, office and mining before the end of this week.

An official from the office of the Messenger of Court said the attached and auctioned property as not enough to recover the amount of debt Sabi Mine owes creditors.

“The amount Sabi owes its creditors is very huge and the property seized cannot even cover a third of it,” the official said.

Workers’ union members said it was worrying that a mine that produces over 25kg of gold a month worth over $2 million would allow such an embarrassing situation to occur.

“Workers were not being paid while management said they were paying creditors, but now that property has been seized and auctioned, where do they stand?

“It’s very embarrassing that such a productive mine’s property goes under the hammer and we wonder where we are heading,” the official said.

The Zimbabwe Mining Development Corporation-owned gold mine ceased operations soon after the Messenger of Court seized property over unpaid debts. $1,4 million is owed to Zesa Holdings in unpaid electricity.

Recent Posts

Stories you will enjoy

Recommended reading