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Home » Makomo exits business rescue
Companies & Markets

Makomo exits business rescue

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Under the agreement, Contango is guaranteed a minimum royalty payment of US$2 million annually from Huo, with additional payments tied to coal production.
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MAKOMO Resources has successfully exited business rescue following the restructuring and settlement of obligations to creditors.The coal miner operating in Zimbabwe’s northwestern coalfields went under administration in 2021 due to unsustainable debts and operational challenges.“We are pleased to announce that effective 27th of February, 2025, the corporate rescue proceedings for Makomo Resources were officially concluded.…

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