RBZ Freezes Prospect Lithium Zimbabwe (PLZ)'s Bank Accounts

Employees at Prospect Lithium Zimbabwe (PLZ) in Goromonzi are facing salary delays due to the freezing of the company’s bank accounts by the Reserve Bank of Zimbabwe (RBZ). The Chinese-run lithium mining company has been unable to remunerate its workers for their services in December. The company has promised that salaries may be paid between December 27th and 29th, but there is uncertainty regarding these dates.

Previously, employees received their salaries between the 20th and 25th of each month, along with hampers worth US$50 every three months, NewZimbabwe reported. However, the freezing of the accounts has also affected the hampers, leaving employees without food for their families during the festive season. This has caused discontent among the workers, who are now unsure if they will be able to celebrate the holidays properly.

PLZ spokesperson, Rugare Dobbie, confirmed that there are issues but did not provide further details. The situation is even more challenging for the employees as over 100 of them have been informed that their contracts will not be renewed in 2024 due to the company’s financial losses. The decline in lithium prices on the global market has resulted in the company operating at a loss, forcing it to reduce the labour force by approximately 164 employees from January 2024.