Businessman and alleged Zanu PF benefactor Kuda Tagwireyi and his company Landela Mining Venture through CBZ Bank could become Zimbabwe’s biggest gold buyer after striking a deal with Fidelity printers that will see CBZ turning a portion of its banking halls into specialised gold-buying and handling centres, ZimLive reports.
According to the publication:
Fidelity announced on May 26 that large scale gold buyers must own mines producing at least 50kg of gold per month, a move designed to flush out foreign buyers.
Landela Mining has also taken majority shareholding in Jena Gold Mine, Elvington Mine, Golden Kopje Mine and Sabi Gold Mine from the state-owned Zimbabwe Mining Development Corporation as Tagwirei expands his mining portfolio.
The company also owns Bindura Nickel Corporation and is a joint venture partner in the US$500 million Russian-led Darwendale platinum mine project.
Tagwirei through Akribos Wealth Managers (Pvt) Ltd has a 30% shareholding in CBZ which makes him a majority shareholder.