Marange lawyers file for postponement

HARARE - Lawyers representing Core Mining Resources and Marange Resources yesterday agreed to postpone an urgent chamber application filed by the latter to stop an arbitration process to resolve their dispute.

Marange Resources, a government-owned company, was in a joint venture agreement with Core to explore and mine Marange gems through a company called Canadile before its collapse when Lovemore Kurotwi and other directors were arrested on fraud allegations.

Kurotwi is now fighting for his investment in Canadile, which he claims was dissolved illegally by Marange, who are equal partners in the company.

He has dragged them before an arbitrator to protect his investment.

However, Marange is opposed to the route taken by Core, saying the joint venture agreement between the two companies was now null and void and they rushed to the High Court seeking an interdict to stop the arbitration process.

Appearing in Judge Mary Dube’s chambers, attorneys for Marange resources requested for another postponement which the defence team led by Advocate David Ochieng, agreed to.

This is to allow more submissions by Marange justifying why they are not in support of the arbitration process.

Marange says the arbitrator has no jurisdiction to deal with the dispute as the deal between the two was now “null and void” due to the “termination and collapse of Canadile Miners”, a statement Kurotwi is refuting saying they should provide a court order stating such.

This is not the first time that Marange has asked for a postponement in this urgent chamber application.
When they initially appeared before Justice Dube last Monday, Marange requested for more time to consult their parent company, Zimbabwe Mining Development Corporation (ZMDC) on how to proceed with the matter.

Kurotwi opposed the application to block the arbitration process.

 “The application is not urgent as the applicant (Marange) will have this honourable court to believe. I submit that applicant seems to be suffering from serious misconception,” said Kurotwi in his affidavit filed with the High Court.

According to the joint venture agreement signed between Core and Marange resources, any dispute that would have arisen between the two should be resolved through arbitration.

“Any dispute which may arise as a result of the interpretation or application of this agreement which cannot be resolved within a period of (30) thirty days shall be referred to arbitration,” reads the signed agreement. - Xolisani Ncube

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.