Online Reporter
Nqobile Bhebhe,Zimpapers Business Hub
The Administrator of Bindura Nickel Corporation Limited and Trojan Nickel Mine Limited has called for joint meetings of creditors and members of the two companies to deliberate on the ongoing reconstruction processes.
According to a notice issued under section 24(1) of the Reconstruction of State-Indebted Insolvent Companies Act [Chapter 24:27], the meetings are scheduled for Thursday 28 August at 10:00am at the Chapman Golf Club in Eastlea, Harare.
The meetings will consider presentations by the Administrator on the Scheme of Reconstruction for both companies.
Trojan Nickel Mine Limited is currently under liquidation, while Bindura Nickel Corporation Limited is undergoing reconstruction and its shares were halted from trading on the Victoria Falls Stock Exchange.
Both entities have been central to Zimbabwe’s nickel sector with operations historically anchored in Bindura, Mashonaland Central.
The Administrator is expected to provide updates on progress made so far, outline strategies for restructuring the companies’ balance sheets and engage both creditors and members on the way forward.
Creditors’ meetings of this nature are key to ensuring transparency, consensus-building and legal compliance in the reconstruction process.
The outcomes from these deliberations will have significant implications for the future of Zimbabwe’s base metals sector, which is poised for renewed investor interest amid global demand for battery minerals.
Blessing Chizhande