Gold Star resumes operations after agreeing terms with supplier

HARARE – Gold Star has resumed operations at its Harare refinery after successfully reaching a solution with its raw sugar supplier, Tongaat Hulett Zimbabwe which had ‘exorbitantly’ increased prices.

This is after the sugar producer announced 14 February it was temporarily shutting down and placing employees on indefinite leave.

However, on Wednesday, the company said trading terms with its raw sugar supplier had been resolved.

“The Board of Directors of Star Africa Corporation Limited (“the Company) is pleased to inform its stakeholders that the refinery at Gold star Sugars (GSS) resumed operation on Sunday, 19 February 2023,” said Gold Star in a circular to stakeholders.

“This followed the successful resolution of the pricing of raw sugar and trading terms thereon, between the Company and the raw sugar supplier.

“GSS has resumed the supply of granulated white sugar to the market and will continue to do so for the foreseeable future.

“Customers have been advised of this development and the resultant refined sugar prices.

“Consequently thereof, the Cautionary Statement published in the Herald, Newsday, and the Company’s website on 15 February 2023 is hereby withdrawn.

“The Company is grateful for the support received from its stakeholders, including the regulatory authorities, during this challenging period and regrets any convenience caused by the temporary closure of the refinery.”

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