PERTH (miningweekly.com) – The Zimbabwe government has assumed a $34-million debt owed by ASX-listed Zimbabwe Platinum Mines (Zimplats) to the Reserve Bank of Zimbabwe.
The debt was assumed under the 2015 Reserve Bank of Zimbabwe Act, which provided for the State government to assume certain debts incurred by the Reserve Bank, subject to the debts being validated and reconciled by the Ministry of Finance and Economic Development.
Zimplats told shareholders on Thursday that the Zimbabwe government had now issued the company with three treasury bills, the first of which was worth $11.3-million and payable by the end of October 2019.
The second bill for $11.3-million will be settled a year later, and the balance at the end of October 2021.