'ZMDC 'stole' $3m from Kurotwi'

HARARE - The Zimbabwe Mining Development Corporation (ZMDC) board “stole” over $3 million from Lovemore Kurotwi’s Core Mining Resources, High Court Judge Chinembiri Bhunu heard yesterday.

Kurotwi is in court with his co-accused ex-ZMDC boss Dominic Mubaiwa on fraud charges amounting to $2 billion following a failed mining venture with a South African firm — Benn Steinmeitz Group Resources (BSGR). ZMDC is a government agency.

Giving evidence in court, Wilfred Munemo, a former finance manager with Canadile Miners, a collapsed joint venture between Core Mining Resources and Marange Resources, told the court the company sold diamonds worth more than $10 million but Core Mining as a shareholder was not given its share by ZMDC.

Marange Resources is the mining arm for ZMDC.

“The money was withheld by ZMDC, there is no money, if someone wants it he can check with ZMDC and if they fail to pay it would have remained with them,” said Munemo.

He said this after being asked by Beatrice Mtetwa, the defence lawyer whether Canadile Miners paid the second dividend to all shareholders, to which he responded that only Marange Resources got its share while the other share for Core Mining was taken by ZMDC.

ZMDC is headed by Godwills Masimirembwa, as board chairperson.

“So will it be correct to state that ZMDC stole Core’s money which was declared as dividends?” asked Mtetwa to which Munemo said “yes”.

Allegations against Kurotwi are that he misrepresented facts to government over envisaged investment of BSGR to mine Chiadzwa diamonds.

According to the state, Kurotwi and Mubaiwa misrepresented facts that led to a $2 billion financial prejudice to government.

But Kurotwi is denying the allegations saying the charge he is facing today came after he told President Robert Mugabe that Mines and Mining Development minister Obert Mpofu had asked for a $10 million bribe to facilitate the joint venture. - Xolisani Ncube

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