Duration’s Vumbachikwe mine property goes under hammer over outstanding salaries

Duration’s Vumbachikwe mine property goes under hammer over outstanding salaries

BULAWAYO, December 14 (The Source) — Mining equipment worth thousands of dollars belonging to the Duration Gold’s Vumbachikwe Mine is set to go under the hammer on Wednesday over outstanding salaries and remittances.

In a notice, the Bulawayo High Court Deputy Sheriff said it would be selling the company’s movable assets at a public auction to be held in Gwanda town on Wednesday.

Mining equipment such as tractors, graders, front-head loaders, among other properties would be auctioned in a case pitying the Gwanda mine with National Mine Workers’ Union of Zimbabwe.

Duration, the Zimbabwe focused private gold miner and explorer is majority-controlled by British-based Clarity Capital, which owns Vumbachikwe, one of the oldest gold mines in the country, having been in operation since 1904.

In January this year, the country co-ordinating project manager, Ollie Iversen told The Source that the miner expects a modest increase in bullion output to 14,400 ounces of gold this year up from the 12,850oz realised in 2014.

Last year the mine was forced to close down for two weeks for failing to abide by an Environmental Management Agency order to line the carry at its dumps and for failing to settle $55,000 in fines.

The mine was also forced to temporarily suspend operations early this due to non-payment of Zimbabwe Electricity Supply Authority bills and was petitioned by National Mine Workers’ Union of Zimbabwe over outstanding union dues they are supposed to remit every month.