ASSOCIATED PRESSMetallon Corporation, the Zimbabwean gold producing company owned by South African business mogul Mzi Khumalo, has announced that it is suing the Reserve Bank of Zimbabwe for failing to pay $132 million for gold delivered to Fidelity Printers and Refiners, a subsidiary of the Reserve Bank. Metallon plans to take legal action, possibly in a jurisdiction outside Zimbabwe, if it does not receive a satisfactory response from the Reserve Bank within 60 days. Metallon is Zimbabwe's largest gold mining company, operating four gold mines throughout the country. The company, which is headquartered in London, was founded in 2002 when Mzi Khumalo acquired Lonmin's Zimbabwean gold assets for $15.5 million. Apart from Metallon, Khumalo owns extensive business interests in the financial services and infrastructure industries.

Source: Forbes May 19, 2019 10:41 UTC