ZMDC fires top management

The Zimbabwe Mining Development Corporation has dismissed its top three executives for alleged gross incompetence.

ZMDC has over the past years struggled to turn around its fortunes even though it holds some of the best mining assets in the country and is central to Zimbabwe's economic development.

It has over 20 mining assets spread across all mineral classes. While it has four gold mines, only one is operational (Jena Gold Mine).

Acting chairman Farai Karonga confirmed the corporation had parted ways with general manager Sydney Simango, chief operating officer Caesar Zishumba and chief finance officer Wilson Chinzou.

Sources said although the disengagement was mutual, the three had been under pressure after failing to turnaround the fortunes of the parastatal.