- Opinion: Who Holds Control on Oil Price -Just These Three Men
- Africa Mining: Malawi importing 65,000 tons of coal per year
- Mozambique Oil & Gas: Anadarko to spend $200 million pre-FID on Mozambique LNG project
- Markets: Natural Gas Markets Remain Ultra Tight
- Africa Oil & Gas: South Sudan Says Recovering Oil Production Boosts FX Reserves
(Reuters) – Zimbabwe plans to take on about $500 million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company (ZISCO) to allow a new investor to revive the company.
ZISCO ceased production in 2008 at the height of Zimbabwe’s economic meltdown, but under the Zimbabwe Iron and Steel Company Debt Assumption Bill published on Tuesday President Emmerson Mnangagwa’s government would assume all the company’s debts and issue instruments such as treasury bills to pay creditors.