Foreigner swindled in $2,5 million mining joint venture

via Foreigner swindled in $2,5 million mining joint venture May 5, 2014 by Paidamoyo Muzulu

A HARARE businessman, Charles Chisango will on Wednesday appear before a Shurugwi magistrate facing charges of defrauding his foreign partners of mining equipment worth $2,5 million.

Chisango is said to have formed a joint venture chrome mining company Minemills with a Singaporean investor Frans Thormanhlen.

Thormahlen’s company, NJZ Resources registered in Hong Kong, in turn supplied the joint venture company with mining equipment on a hire purchase agreement.

But Thormanhlen filed charges of theft against Chisango after the latter allegedly refused to hand over the mining equipment to NJZ Resources when Minemills had failed to pay off the purchase price due to discontinued operations.

Chisango is also accused of holding on to three vehicles: a black Isuzu, a white Isuzu and a Lupo. He is also allegedly holding on to an assortment of heavy mining equipment.

According to court papers, Chisango is accused of having clandestinely kicked out the foreign investors and started disposing and hiring out the mining equipment to third parties after the joint venture collapsed due to chrome ore export ban.

Chisango is accused of having disposed of a 40 foot container for $2 000 to Charthigh Investments in December last year.

The ownership of the equipment which includes crushers, containers, compressors and three vehicles all valued at $2,5 million has raged in the courts since last year.

The Supreme Court in February this year dismissed Chisango’s claim to ownership of the equipment with costs.

Deputy Chief Justice Luke Malaba with Judges of Appeal Anne-Mary Gowora and Antonia Guvava ruled: “Whereupon, after reading the documents filed of record and hearing counsel by consent it is ordered that the appeal be and is hereby dismissed with costs.”

Before appealing to the Supreme Court, Chisango had earlier lost his case in the High Court where Justice Chinemembiri Bhunu in October 2009 ruled that: “Pending the final determination of this matter the respondents shall deliver all the machinery/equipment to the Deputy Sheriff of Zimbabwe, Harare within 48 hours for service of this order.”

Chihambakwe, Mutizwa and Partners represented NJZ Resources while Chisango and Minemills lawyers were Wintertons Legal Practitioners.

 

COMMENTS

WORDPRESS: 13
  • comment-avatar
    Clive Sutherland 6 years ago

    foreigners be aware, this is what indigenisation is all about, out right theft!

  • comment-avatar
    Mlimo 6 years ago

    This is what happens when you invest in Zimbabwe no doubt he will pay the judge and get off scot free

  • comment-avatar
    Chaka 6 years ago

    Yes, most foreigners r already aware! I wonder why a company wd invest in Zimbabwe.

  • comment-avatar
    John Thomas 6 years ago

    Chissango apparently feels it is unfair to be treated like an adult

  • comment-avatar

    Chissango,mugabe apo , mugabe zanupf do not know any better. Thats how it is done right from the top to the bottom in zims.They are really confused why there is no FDI.

  • comment-avatar
    Gomogranny 6 years ago

    Give me 51% now! The other 49% I will steal. Now go.
    This is how we do business in Zimbabwe.

    • comment-avatar
      Jono Austin 6 years ago

      FDI in a nutshell!

    • comment-avatar
      Petal 6 years ago

      Possibly told the foreign investor if you do not give me a certain percentage you cannot do business in the country – crafy buffoon

  • comment-avatar
    munzwa 6 years ago

    Ha Ha should do the indigenous cause a lot of good…when something is too good to be true ..it normally is!!!!

  • comment-avatar

    This is the real zimbabwean way of partnership investers be warned its like throwing your money and fortunes into the fire.

  • comment-avatar
    Petal 6 years ago

    Does not come as a surprise deep down they still have the hatred for the murungus embedded in them if the investor is one TAKE YOUR BUSINESS ELSEWHERE !

  • comment-avatar

    They try to copy the master of the cheating art Temba Mliswa. Stole, is very rich and is still very free.