Business / Companies
Dubai company sues Zimbabwe gold producer
07 Aug 2015 at 06:07hrs | Views
Tampa Gold DMCC Dubai company has filed a $25 million lawsuit against South African businessman Mzilikazi Godfrey Khumalo and his Zimbabwean gold producing firm Metallon Gold for an alleged breach of contract.
In papers filed at the High Court on August 4 this year under case number HC 7312/15, Tampa Gold DMCC claimed it made an advance payment of $3 million to Khumalo in anticipation of gold supplies in March last year, but he allegedly breached the agreement.
The firm, represented by its owner Shafeeq Rakkanhi Kinattinkara, is now demanding $25 million compensation for damages caused by Khumalo's alleged failure to honour the agreement.
Source - newsday
