HARARE, Aug.5, 2025 (NewsDayLive) -A United Arab Emirates- based company Rudra Mani Gen trading as LLC allegedly lost US$60 000 to Zimbabwean firm Nasha Industries and Commodities Private Limited following a botched lithium trading deal.
This emerged on Tuesday when Nasha Industries and Commodities Private Limited director Nasha Weal Musa appeared before Harare magistrate Ruth Moyo facing fraud allegations.
Musa was remanded in custody to Wednesday for bail ruling. LLC was being represented by its operations director Mahek Shah. LLC is into trading of minerals, and mostly procures minerals from Zimbabwe for export to China.
Prosecutor Takudzwa Jambawu told the court that sometime in January 2025, Shah was looking for lithium concentrate in Zimbabwe to export to China and met Musa in Borrowdale, Harare.
Musa allegedly lied to the complainant that his company had 500 metric tonnes of lithium concentrate in Kamativi, which he was selling for US$196 000. He allegedly also claimed that he had export documents for the minerals.
The court heard that on January 31, 2025, the parties entered signed a memorandum of sale and purchase agreement.
The two agreed that Musa would deliver the 500 metric tonnes of lithium concentrate at his business address in Bluffhill from which the complainant would load the consignment for export.
Both parties also agreed that the complainant would make a once-off payment after Musa delivered the lithium concentrate.
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On February 11 , Musa told the complainant that he had faced some funding challenges to start transporting the lithium concentrate to Harare and requested for some money from the complainant.
Resultantly, the complainant paid US$47 000, and Musa allegedly promised to start transporting the lithium concentrate to the agreed destination within five days.
It is alleged that after five days, Musa failed to honour his promises and requested for more funding from the complainant and was given a further US$13 620 which he received in instalments.
After receiving the funds from the complainant, the accused failed to supply the lithium concentrate as per his promises, converted the funds to his own use and became evasive.
This prompted the complainant to make a police report.
As a result of accused’s action, the complainant lost US$60 620.
