Kurotwi seeks $160m cash, diamonds back from Marange Resources

GOVERNMENT diamond miner Marange Resources will today appear before an arbitrator, retired judge Justice Moses Chinhengo, over claims by businessman Lovemore Kurotwi that $160 million in cash and diamonds was confiscated from his Core Mining when its licence was cancelled six years ago.

Source: Kurotwi seeks $160m cash, diamonds back from Marange Resources – NewsDay Zimbabwe June 15, 2016

by Everson Mushava

Marange is now part of the Zimbabwe Consolidated Diamond Company following the cancellation of all Chiadzwa-based diamond mining companies’ licences early this year.

The claim by Kurotwi followed last month’s ruling by the High Court in his favour.

Armed with the court victory, Kurotwi is now claiming over $10 million in cash confiscated from him, and over $150 million worth of diamonds that were also taken away from his mine when he was arrested on allegations of prejudicing the State of $2 billion in a botched diamond deal.

“As you are aware, they (Marange Resources) took over our company and money against unfounded allegations levelled against me,” he said yesterday.

“It was illegal for them to take away our company against criminal charges. Now I have been acquitted, I now say, according to our contract, any dispute should be resolved by the arbitrator. So they have been summoned by the arbitrator for us to resolve the dispute.”

The businessman, who lost all his mining equipment to the government-owned Marange Resources Corporation, is also reclaiming his mining equipment back.

Kurotwi will be represented by Beatrice Mtetwa, who applied to the Law Society of Zimbabwe for an arbitrator, which then provided Justice Chinhengo.