South African Mining Tycoon Mzi Khumalo Demands $132 Million From Zimbabwe Reserve Bank [Forbes]
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Source: Forbes
South African Mining Tycoon Mzi Khumalo Demands $132 Million From Zimbabwe Reserve Bank Zimbabwe Reserve Bank Governor, John Mangudya, talks to the Associated Press in Harare, Zimbabwe, Monday, June, 15, 2015. The Zimbabwe central bank invited last week Zimbabweans still holding on to notes of the Zimbabwean dollar to exchange them for U.S dollars starting Monday as part of a process to phase out a currency that has so many zero notes that ran into trillions. According to Mangudya "Zimbabweans are excited" about the move, adding that the old notes will be burnt and shredded, " as is the practice globally." (AP Photo/Tsvangirayi Mukwazhi) ASSOCIATED PRESS Metallon Corporation, the Zimbabwean gold producing company owned by South African business mogul Mzi Khumalo, has announced that it is suing the Reserve Bank of Zimbabwe for failing to pay $132 million for gold delivered to Fidelity ers and Refiners, a subsidiary of the Reserve Bank. Zimbabwean gold miners are required by law to sell
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