HARARE – Core Mining and Minerals director Lovemore Kurotwi has dragged Marange Resources before an arbitrator in a bid to recover his mining equipment being used in the Chiadzwa mining fields.
The equipment worth millions of dollars was grabbed by the government-owned mining firm after a botched mining venture, which culminated in Kurotwi being accused of prejudicing the government of $2 billion.
The two companies’ agreement resulted in the formation of the now-defunct Canadile Miners.
Earlier efforts to recover the equipment were stalled by a trial that dragged for years. However, Kurotwi was eventually acquitted in May this year, prompting him to demand his equipment back.
“The State having failed to establish a prima facie case against the accused (Kurotwi), it is accordingly ordered that…accused be and…hereby acquitted and discharged,” former High Court judge Chinembiri Bhunu, who is now a Supreme Court judge said in his judgment.
In the agreement Core Mining had with Marange Resources, any dispute that arose through the partnership was to be resolved by arbitration.
“The agreement requires the parties to agree to the appointment of an arbitrator within seven days and if no agreement is reached within the seven days period, the president of the Law Society is thereafter tasked with appointing the arbitrator,” reads Kurotwi’s letter, written by his lawyer Beatrice Mtetwa to the Law Society of Zimbabwe in 2012.
Arbitrator Moses Chinhengo was eventually appointed to handle the case, which will be heard today.
Kurotwi’s argument is that the Zimbabwe Mining Development Corporation, which owns Marange Resources, cannot continue using Core Mining equipment or benefit from the firm’s investments in the Marange project, if government failed to recognise the joint venture agreement.