Metallon may pay suppliers in gold amid Zimbabwe cash shortage: #Metallon Corp. is considering paying mining-equipment suppliers in #gold because a #cash shortage in #Zimbabwe is hampering its plan to expand output, Chief Executive Officer Mzi Khumalo said.
Zimbabwe, which abandoned its own #currency in 2009 because of #hyperinflation , has faced cash shortages for at least the past two years as businesses and #individuals moved money #offshore and the #import bill increased after #exports hashtag#collapsed . The country’s biggest gold miner needs at least $400 million to buy new #machinery and upgrade existing equipment as it targets a fourfold increase in production.
Metallon has held talks with equipment suppliers in #SouthAfrica and #Canada , among other countries, Khumalo, 62, said in an interview at his home in the capital, #Harare . Zimbabwean law enables the company to convert leases on claims around its four mines into special mining leases that can then be used to secure financing for its equipment purchases, he said. “We can then enter agreements with banks, various financiers on the basis of gold-backed transactions,” Khumalo said. Suppliers will “get their payment in gold,” he said.
Sunflower star: Pycnopodia helianthoides
•Distribution: They're found along the coast of North America, from Alaska to California.
•Lifespan: 3-5 years.
•Size: It has an arm-span of 3.3ft making it the largest sea star in the world.
•Diet: They eat sea urchins, clams and snails.
•Conservation status: No status.
•Dangerous?: Not to humans.
•Did you know?: A sunflower star can swallow an entire sea urchin, digest it internally and then expel the urchin's test—its external shell.
Please comment what marine animals you would like to see on my page in the future :)
📸 Photo credit: Unknown