Fossil Contracting

  • Business Briefs

    Govt seeks to ban foreign contractors in road construction

    GOVERNMENT is contemplating banning foreign contractors from undertaking local construction projects, as Chinese firms are accused of flooding the parallel market with cash paid to them by the government, thus destabilising the local currency. The government has been awarding lucrative tenders to foreign companies especially the Chinese, who also stand accused of bringing in labour for menial work from their…

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  • Business Briefs

    Russian-owned platinum venture sells shares to Tagwirei-linked firm

    GREAT Dyke Investments (GDI), a Russian-backed project planning to build Zimbabwe’s biggest platinum mine, has sold a 4.4% stake to Fossil Mines Ltd. as Covid-19 disrupted fundraising for the venture. Fossil, owned by Zimbabwe’s Obey Chimuka, will invest US$30 million in the Darwendale project, through a combination of cash and services, including for engineering, procurement and construction. Obey Chimuka, managing…

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