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Harare High Court

Baishun Mining Company (Pvt) Ltd v Chinda Resources (Pvt) Ltd

HH 499-23

Case Details

Court
Harare High Court
Date
30 August 2023
Citation
HH 499-23
Neutral Citation
[2023] ZWHH 499
Outcome
unknown
Case Type
Trial

Bench

Presiding
CHILIMBE J
Full Bench
CHILIMBE J
Areas of Law
Contract LawExchange Control RegulationsMining Law
Keywords
domestic transactionforeign currencyZimbabwe dollarmining rightsrefund
Tags
MiningContractCurrencyExchange Control
legislation
Statutes Cited
  • Exchange Control Act
  • Reserve Bank of Zimbabwe Act
  • Finance (No. 2) Act, 2019
ai analysis
Case Summary

Key Issues

  • {"issue_text":"Whether the compensation/refund shall be paid in United States Dollars cash or payable at the interbank rate as at the date of payment","issue_type":"mixed","dispositive":"yes","related_facts":"Contract clause 3 specifies USD cash; transaction is domestic; exchange control regulations restrict foreign currency use"}
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background
Facts of the Case

Background

The defendant sold mining rights to the plaintiff for US$2,050,000. The transaction failed and parties agreed defendant would refund US$100,000. Dispute arose whether refund must be paid in USD cash or Zimbabwe dollars at interbank rate.
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