River Ranch, a private diamond company of Beitbridge in Zimbabwe can not find investors to restore production at its diamond project River Ranch (River Ranch). Five years ago the Supreme Court announced the liquidation of the company.
Several companies from the USA, England, China, Canada and South Africa have expressed interest in the mine, but did not invest in it.
However, the two companies have recently expressed interest in the acquisition of mines, in particular local firm Creation Minerals and Consultancy Company and Zambian Dawn Diamonds Trading.
Zimbabwe Independent reported that negotiations with the two companies, and the mine was asked to from $ 10 million to $ 14 million. Is currently being
company, whose assets at the time of liquidation was $ 5.6 million, owed $ 21 million by businessman Adel Auzhanu (Adel Aujan).
Sheikh Adel Aujali, head of Saudi Rani Investments, owned a controlling block of shares of the mine, died in January this year.
According to the weekly, it was the largest creditor of the diamond mines.
The family of former Vice-President Joyce Mujuru (Joice Mujuru) holds a 20 percent stake in River Ranch by Khupukile Resources.
According to data from 2012, the reserves of diamond-bearing rocks in the mine still is estimated at 9.8 million tons, and resources - to $ 162 million.
"The main cause of failure could be the lack of capitalization it relies solely on the support of shareholders in their work to illustrate.. the financial needs of the company, shareholders' support over the years has grown to a staggering $ 21 million ", - said in a statement released by the Zimbabwe Independent.
"Auditors Ernst & Young in the financial statements for fiscal year 2011 showed that the company is no longer a going concern due to its inability to service creditors, as it relies on the support of shareholders", - added the authors of the publication.
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