Ziscosteel Workers Contracts, Terminated And Zim Gvt Takes Over Firm’s US$700m Debt

Ziscosteel Workers Contracts, Terminated And Zim Gvt Takes Over Firm’s  US$700m Debt

GOVERNMENT will, with effect from December 1 this year, terminate all contracts for Ziscosteel workers on three months’ notice and absorb its wage liabilities in a bid to attract investors to resuscitate the company, Finance Minister, Patrick Chinamasa has said. The development confirms the collapse of the Redcliff steelmaker’s much-vaunted takeover by an Indian company despite vice president Emmerson Mnangagwa insisting in February this year that plans to restart the closed company were at an…

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