Metallon dismisses externalisation charge in Zimbabwe

Metallon CorporationBy AKANI CHAUKE
JOHANNESBURG, (CAJ News) – SOUTH Africa’s Metallon Corporation has refuted media reports it externalised US$31 million from its operations in Zimbabwe.

The allegations have been made through Zimbabwe’s biggest daily publication.

Mzi Khumalo, Metallon chairman, said contents of the newspaper were “false” and “thoroughly misleading.”

He said neither he nor the company have ever been accused of externalising funds in Zimbabwe.

However, certain externalisation allegations were brought against the now defunct Metallon Gold Zimbabwe (MGZ) regarding its activities between 2009 and 2013.

MGZ’s management denies the allegations.

Khumalo said the charges were politically motivated by certain members of the previous establishment in Zimbabwe, targeting MGZ for the purposes of indigenisation.

“This is why no evidence has ever been presented by the state prosecutor in the past three years to substantiate these allegations,” Khumalo added.
– CAJ News

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Posted by on Mar 15 2018. Filed under Africa & World, Finance, Investing, Mining, Mining & Engineering, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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