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RioZim reports successive losses, $29.5m in 2025, as production plunges 80%

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RioZim Ltd, once one of Zimbabwe’s largest gold producers, widened its net loss to US$29.5 million in 2025 from US$25.4 million a year earlier, as output at its two gold mines crashed 80% and the company largely missed a record gold rally, Mining Zimbabwe can report.

By Ryan Chigoche

The deeper loss came after both the Renco and Cam & Motor mines remained idle for most of the year while management searched for funding and new partners. Total gold production fell to just 84 kilograms in 2025, down from 428kg in 2024, the company said in its latest financial report.

That collapse in output meant RioZim failed to capitalise on a 44% surge in average gold prices to US$3,436 per ounce in 2025, from US$2,389/oz the previous year. Rivals cashed in; RioZim watched from the sidelines.

Renco only restarted in September under a contract mining deal with Chinese contractor FeiFan Mining, now RioZim’s main financier. All 84kg produced during the year came from Renco in the final quarter. Cam & Motor produced no gold at all.

The scale of RioZim’s decline is stark when compared to peers. Blanket Mine produced 14,767 ounces of gold – roughly 459kg – in the first quarter of 2026 alone. That means RioZim’s entire 2025 output was less than three weeks of production at Blanket’s current run rate.

Looking ahead, RioZim is betting on a two-pronged operational recovery to reverse its fortunes. At Renco, extensive underground development is planned to open new mining areas and enhance grade flexibility. While rain-induced power disruptions hit operations in the final quarter of 2025, the company said efforts are now underway to strengthen backup power systems and upgrade power infrastructure in collaboration with the national utility – a necessary step to sustain any production ramp-up.

That same recovery push extends to Cam & Motor. Pit dewatering has been completed, and management has shifted priority to refurbishing the processing plant to enable a production restart. Pit development and relocation of properties within blasting zones remain critical to normalised mining operations. The company said progress achieved after year-end positions the mine to commence gold production in the second half of 2026.

The broader environment is finally working in RioZim’s favour. Gold prices have continued to trend positively, reaching approximately US$5,000 in 2026. The board believes that a combination of robust funding arrangements, renewed operational activity at both mines, and favourable gold prices will drive a return to profitability.

Whether this latest turnaround plan succeeds where previous efforts failed will depend on execution and on whether RioZim can finally stop missing the boom.

Gold buying prices in Zimbabwe per gram/ ounce, 2 June 2026

Gold buying prices in Zimbabwe per gram/ ounce, 2 June 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above134.224,174.70
SG 85% but less than 90%132.804,130.53
SG 80% but less than 85%131.384,086.36
SG 75% but less than 80%129.964,042.19
Sample (5–10g)127.833,975.95
Fire Assay CASH134.934,196.78

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.


#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Zimbabwe Mine Deaths Rise 6% to 64 in Q1 2026, Ground Collapses Account for 54% of Fatalities

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Sixty-four artisanal and small-scale miners died in Zimbabwe during the first quarter of 2026, a 6 percent increase from the same period last year, with ground collapses accounting for more than half of all fatalities, Mining Zimbabwe can report.

By Ryan Chigoche

The quarterly death toll, disclosed by Mines Minister Polite Kambamura at a workshop for ministry inspectors, lays bare a widening gap between mining’s economic importance and persistent safety failures.

Of the 64 lives lost, ground collapses claimed 54 percent, accounting for 35 miners. Improper use of explosives and gassing caused 25 per cent of the deaths, while falls into abandoned and unprotected shafts accounted for 15 per cent. Electrocution and equipment-related incidents made up the remaining 6 per cent.

Kambamura told government inspectors that the sector’s record mineral revenue in 2025, driven by gold, lithium, and other commodities, must not overshadow the loss of life.

“The figures that must command our attention this morning are not the figures of production. They are the figures of loss,” he said.

The Minister dismissed any framing of the deaths as unavoidable misfortune.

“These deaths are, in the overwhelming majority, preventable. They are not acts of God. They are the predictable consequence of unsafe practice, and where there is unsafe practice, there must be a vigilant inspector.”

He outlined a two-pronged safety response: first, a training programme that has already reached over 500 artisanal miners with instruction in basic safety and environmental management.

“Where you find ignorance, teach,” he said.

Second, he ordered inspectors to deploy the full force of the law against criminal operations, including riverbed mining, undermining of public infrastructure, and working without title, using prohibition orders without hesitation.

With artisanal activity accelerating alongside formal investment, pressure on the inspectorate is intensifying. Kambamura closed with a direct challenge: treat the 64 dead not as a statistic, but as evidence of a system requiring urgent repair.

“Behind each of those numbers is a family broken, a community grieving, and a question we are duty-bound to answer: could it have been prevented?”

Unsafe Tailings, Corruption and Illegal Appointments in Spotlight as Minister vows crackdown

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Minister of Mines and Mining Development, Hon. Polite Kambamura (MP), has issued a sharp warning against the appointment of unqualified foreign Mine Managers, the proliferation of dangerous tailings dams, and corruption within the mining inspectorate, Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking at the Inspectors of Mines Workshop, the Minister revealed growing concern over foreign nationals assuming managerial positions without the requisite FBL (First Blasting Licence) or MBL (Mine Blasting Licence) – let alone proven competency in local mining law and safety practices.

“These days you are just appointing anyone. I have seen some Chinese being appointed as mine managers without proper qualifications,” Dr. Kambamura charged. He insisted that all mine managers, regardless of nationality, must be competent, locally certified, and fully accountable for safety outcomes.

The Minister also took aim at appalling physical standards across some operations. “Some tailings dams are nothing short of a disaster waiting to happen. Some open pits are completely unsecured; that is why our people are perishing. Go and close that nonsense,” he ordered inspectors.

On corruption, the Minister was unflinching: “An inspector who accepts a bribe to overlook a cracked tailings wall or a compromised ventilation system has signed a death warrant. Corruption will be treated as the blood crime that it is.”

To enforce standards, the Government has pledged USD 2 million for a National Safety Enforcement Blitz, alongside new district-level mining development officers, vehicles for inspectors, and a dedicated environment department within the Ministry. “We will give you the resources, but you must bite,” he said.

BREAKING: Kambamura Gives Mine Inspectors Full Power to Shut Unsafe Mines

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  • Kambamura Declares Zero Tolerance on Unsafe Mines

Minister of Mines Hon. Dr Polite Kambamura has given inspectors an unprecedented assurance: any suspension or closure order issued by a Government Mining Engineer will not be reversed by political or corporate interference, Mining Zimbabwe can report.

By Rudairo Mapuranga

“If an inspector closes a mine, it should be so. No one should overturn that order until the inspector is satisfied,” the Minister declared at the national Inspectors of Mines Workshop. He added that this backing comes directly from the highest office: “If I support you, it means the President supports you as well.”

The pledge aims to end the long-standing frustration where unsafe mines remain operational after making a few phone calls. Dr. Kambamura reminded inspectors that they are “the eyes of the Government,” and that blurred vision, due to intimidation or bribery, costs lives.

“You now have teeth to bite,” he said. “Mine managers must be accountable. When you find chaos – riverbed mining, undermining infrastructure, operating without title – exercise the full statutory authority of the Mines and Minerals Act [Chapter 21:05].”

In a related move, the Ministry is establishing confidential whistleblowing channels to protect honest inspectors who face political attacks or corporate retaliation. “We will protect you,” the Minister promised. “But you must act.”

One-on-One with Sandvik Auto Electrician Progress Marikano

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Rebuilding heavy mining equipment requires precision, technical skill, and deep mechanical understanding. Since joining Sandvik as an apprentice in 2012 and qualifying as a Class 1 Millwright in 2016, this specialised auto-electrician has built a career restoring complex machines such as load haul dumpers (LHDs), dump trucks, and drill rigs at the company’s Harare workshop.

In this interview, Progress Marikano shares insights into the process of rebuilding mining machinery and reflects on her journey in the trades while balancing a demanding technical career with family life as a wife and mother.

Progress, your journey from a 2012 apprentice to a specialised auto-electrician is impressive. What made you choose a trade like this, and what was the most important lesson you learned during those four years of training that still guides your work today?

I have always been fascinated by how complex systems work together to form a unit. Before my apprenticeship, I was a medical student, but when I could not finish the course, I saw being a millwright as very similar to medicine. Both investigate symptoms, run tests, rule out possibilities, and identify root causes. They both rely on observation, logic, and experience. You take something broken and make it whole again. They are different trades, yet almost identical.

A millwright is a jack of all trades. During training, you gain skills in automotive engineering, electrical, mechanical fitting, welding, hydraulics, and fitting and turning. The most important lesson I learnt is to look at a machine as a whole. The electrical does not work separately, and the hydraulic does not work separately. They work together towards a common cause; it is electro-hydraulic.

You are a qualified Class 1 Millwright and a specialised auto-electrician. That combination is powerful but rare. How did you decide to layer the electrical specialisation on top of your mechanical foundation, and where do you see the biggest overlap or conflict between the two in your daily work?

It was actually by default. Back then, Sandvik only trained millwrights, and after qualifying, the ladies would automatically work as auto-electricians, whilst the men became diesel plant fitters.

The biggest overlap is in the fact that our machines are not purely electrical or hydraulic. They are electro-hydraulically controlled. The mechanical and electrical systems are completely intertwined.

I would say the biggest conflict is that the mechanical side is mostly about power and heavy lifting, and it is mostly dirty, whereas the electrical side is mostly about precision, cleanliness, and is delicate. The challenge becomes managing the two so that they can co-exist in a machine regardless of their differences.

You describe your work as a “transformation process”, taking an ageing, stripped machine and bringing it back to life. Can you walk me through the most critical moment in that process? Is it the first start-up, or is there another step earlier on where your expertise truly determines whether the rebuild will be a success or failure?

The most critical moment is the routing of cables and the wiring of electrical components. If a cable is laid down too close to a heat source or wired incorrectly, that machine is a walking failure. It might fail to start, or if it does, it will fail within a short period of time in the mines.

When you strip a machine down to the bare frame and begin rebuilding, you’re essentially working with a blank canvas, but the machine’s history is still there. How do you identify and address the hidden issues, the lingering electrical or hydraulic problems that plagued the machine before it was stripped— that aren’t visible on a parts list or a schematic?

The condition of the frame itself, hydraulic hoses, electrical cables, and panels does tell a story even after having been stripped off a machine. Burnt or partly burnt cables reflect overheating due to nearby heat sources or high currents being drawn. Corroded or sulphated cable terminations in electrical panels show that water was able to enter the panels, either due to worn-out seals or panel covers left incompletely closed.

Worn-out cables or hoses with rub marks may indicate that they were not properly secured. All these cannot be identified by checking parts manuals or schematic diagrams, but by visual inspections. They can be rectified during the rebuild process and through notifying those at the mines what to be on the lookout for.

Your role requires you to troubleshoot complex issues where electrical, hydraulic, and mechanical systems intersect. Describe a recent, particularly stubborn fault you encountered. Where did the problem manifest, and how did you trace it back to its root cause?

A drill rig’s power pack that was working perfectly suddenly began tripping when attempting to start it up. There were one or two hydraulic valves whose pressure settings had been recently adjusted. Initially, we thought that was the cause and reduced the pressures. We were able to start the motor and attempted to return the valve settings to where they were initially, but during the process, the power pack would just cut off by itself.

We tested the control circuit, and it was working perfectly. After several tests and troubleshooting, we later identified an intermittent contact failure. The power circuit would only complete about half the time the contactor was pulled in.

After a rebuild, you conduct exhaustive functional testing to ensure a machine is “site ready.” What is the one test you personally never skip or delegate, and what is the worst thing that can happen if a machine goes to the site before that test is done perfectly?

The one test I usually do personally is the dead short check done before the initial start-up of the machine. A direct short results in high currents being drawn that can melt cables, cause battery terminal welding, battery explosions, or fires.

Beyond rebuilding, you’re also responsible for the workshop’s electrical maintenance and safety. How does your perspective as someone who rebuilds machines change how you approach maintaining the facility that supports that work?

The workshop should be treated as the ultimate machine. A clean, electrically stable, and organised facility is the foundation of a world-class rebuild. If the workshop is running perfectly, the machine leaving it will too.

You work with machines that are constantly evolving with new technology. How do you stay ahead of the curve, and what is the biggest challenge you face in troubleshooting a brand-new system versus one from ten years ago?

In a company like Sandvik, technology moves very fast, and I treat a new machine’s manual as a textbook. Sandvik offers internal technical training and digital diagnostic platforms, which keep us ahead. Older machine troubleshooting was straightforward, physical, and predictable.

However, new systems are not so straightforward because they are software-driven through the use of PLCs, electrical modules, and CAN bus systems. Ten years ago, machines were fixed with our hands, and today we fix them with our minds.

You are a wife and a mother working in a highly technical, demanding trade. What has that journey been like, and what advice would you give to a young woman today who is considering a career in the trades but might be unsure if she fits the mould?

My journey has been one of constant evolution. Beginning as a young woman, often the only female in the room, I had to deal with the absence of female facilities like change houses and PPE not designed for women. The industry was not properly equipped to accommodate females back then, but it has gradually evolved, and more women are entering the industry and are now better catered for.

I have realised that working in a demanding trade and building a family is a double shift—from a busy, demanding day to being a present and loving wife and mother. However, in all this, my kids grow to see a mother who does not just have a job but who builds and breathes life into giant machines.

I would say to the young woman considering a career in the trades that machines don’t care about your gender. Focus on becoming so technically sound that your work speaks louder than any stereotype. If you have the curiosity to understand how things work and the perseverance to see a project through, then the industry needs you.

Silobela MP Charts Roadmap for Responsible Small-Scale Mining

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  • Nyevera calls for silicosis research, constituency awareness campaign on safety and ESG

Small-scale miners in Silobela are set to benefit from a comprehensive health, safety, and environmental blueprint, with the area’s legislator, Hon. Jona Nyevera, spearheading initiatives to tackle silicosis and entrench responsible mining practices in line with President Mnangagwa’s vision, Mining Zimbabwe can report.

By Rudairo Mapuranga

Hon. Nyevera, who is also a member of the Parliamentary Portfolio Committee on Mines and Mining Development, has announced plans to engage local hospitals to conduct research on silicosis, a debilitating lung disease caused by prolonged inhalation of silica dust, which has silently afflicted countless artisanal and small-scale miners across the country.

In an interview, the Silobela MP said the research would form the foundation of a specialised health intervention tailored to the unique conditions of small-scale gold mining operations.

“Our miners are dying slowly from the dust they breathe every day. We cannot keep pretending the problem does not exist,” Hon. Nyevera said. “We will work with our hospital in Silobela and other health institutions to conduct proper research on silicosis among small-scale miners. The findings will guide us on how to protect our people.”

Constituency Awareness Campaign

Hon. Nyevera further revealed that a constituency-wide awareness campaign is scheduled for mid-June to early July, focusing on silicosis prevention, occupational safety, health standards, and environmental management, starting in Silobela before being rolled out nationally.

“We are going to take the message directly to the miners in Silobela, in their language, in their workplaces,” he said. “Safety, Health, and Environment (SHE) issues have been treated as an afterthought for too long. That ends now, starting here.”

The campaign will also incorporate Environmental, Social, and Governance (ESG) principles, which Hon. Nyevera said are essential for Zimbabwean small-scale miners to access international markets and premium prices for their gold.

“ESG is not just for large mines. Our small-scale miners must also meet global standards if we want to sell our gold at fair value and attract responsible investors,” he added.

Silobela as a National Model

Hon. Nyevera declared that Silobela would lead the charge in demonstrating how small-scale miners can become champions of responsible mining under President Mnangagwa’s mantra, “Nyika inovakwa nevene vayo” (“Ilizwe lakhiwa ngabanikazi balo”).

“We want to create a blueprint — a practical, homegrown blueprint — that shows how small-scale miners can operate safely, healthily, and sustainably,” he said. “Silobela will be that example. From here, the model will spread to every gold-producing area in Zimbabwe.”

Hon. Nyevera noted that the recent government policy reserving the small-scale gold sector for Zimbabwean citizens had created the enabling environment. The next step, he said, is for miners to take responsibility for their own well-being and for the development of their communities.

“The President has given us the space. Now we must show that we can be responsible stewards of our mineral wealth. That means protecting our health, protecting our environment, and protecting our workers,” he said.

Hon. Nyevera outlined that the blueprint would include:

· Regular health screenings and silicosis monitoring for miners
· Mandatory safety training and provision of protective equipment
· Environmental impact awareness and rehabilitation of mined-out areas
· Governance structures that promote transparency and community accountability

“We are not reinventing the wheel. We are adapting best practices to our reality,” he said. “Small-scale miners are the backbone of our gold sector. It is time we treated them like the professionals they are.”

The MP called on the Ministry of Mines and Mining Development, the Ministry of Health, and local authorities to support the initiative.

Hon. Nyevera urged miners in Silobela and across the country to embrace the awareness campaigns and to participate actively in designing the responsible mining blueprint.

“Do not wait for someone to save you. Save yourselves. Organise. Learn. Invest in your own safety. That is what Nyika inovakwa nevene vayo truly means,” he said.

The first awareness clinics are expected to be rolled out in Silobela during the third week of June, with mobile teams visiting mining sites to conduct on-the-spot safety audits and health checks.

“We have the policy. We have the political will. Now we need the miners to lead, starting right here in Silobela,” Hon. Nyevera said.

Artisanal Miner Dies After Boulder Collapse in Norton

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An artisanal miner died on Friday following a rockfall at an illegal mining site on Drummond Farm in Norton, local authorities have confirmed; Mining Zimbabwe can report.

By Rudairo Mapuranga

Councillor Charles Mugwagwa, speaking to Mining Zimbabwe, said that a boulder collapsed onto the miner while he was working in a shaft, killing him instantly. A second miner sustained a leg injury in the incident.

“Indeed, an artisanal miner died at a site here in Norton,” Mugwagwa said. “I’m told a boulder collapsed on the miner while working in a shaft, and he died instantly, while the other sustained a leg injury.”

The deceased has been identified locally as Joseph, who reportedly lived with his parents at Drummond Farm.

Councillor Mugwagwa has appealed for community support, urging those who are able to come together following this tragic incident.

More details are expected to emerge as investigations continue, and further information becomes available.

Zimplats Seeks Clarity on Zimbabwe’s New Critical Minerals Policy

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The country’s largest platinum miner, Zimplats Holdings Ltd, said it is seeking clarity from the government on a newly announced critical minerals policy framework that lacks detailed implementing regulations, Mining Zimbabwe can report.

By Rudairo Mapuranga

In an ASX statement released on Monday, the company said it “notes” the government’s 22 May announcement classifying 14 minerals, including platinum group metals (PGMs), as critical.

“Zimplats expects the Zimbabwean government to provide further details on this policy framework in due course and will provide further updates as required,” the company said.

The miner, which is one of the largest contributors to Zimbabwe’s economy through foreign currency generation, employment and taxes, said it is “actively engaging with authorities to understand the full implications.”

Despite the absence of specific rules, including minimum state shareholding percentages, beneficiation classification tables or transitional export plans, Zimplats struck a constructive note.

“Zimplats fully recognises and supports the Zimbabwean government’s objective of ensuring that the country derives sustainable value from its mineral resources,” the company said.

The miner also acknowledged the strategic importance of PGMs in the global energy transition and their potential to drive inclusive economic growth and industrialisation in Zimbabwe.

Zimplats said it remains one of the country’s largest investors, having made significant long-term investments in local beneficiation, including the development and expansion of processing capacity.

“Over the years, the company has made significant long-term investments in local beneficiation, including the development and expansion of processing capacity, in line with national priorities to move up the value chain,” the statement said.

Ongoing projects, Zimplats added, reflect its commitment to deepening in-country value addition and supporting downstream industries.

The miner said it values the strong and constructive relationship it has built with the Zimbabwean government and other key stakeholders.

“Zimplats remains committed to working in partnership with the Zimbabwean government to support responsible resource management and shared value creation for the benefit of all stakeholders,” the company said.

Industry observers expect the government to release implementing regulations in the coming months, which will provide the clarity that miners like Zimplats are seeking.

ZCDC names Mtombeni CEO as Zimbango steps down

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Zimbabwe Consolidated Diamond Co. (Private) Ltd. named Dennis Mtombeni as chief executive officer, succeeding Douglas Zimbango, who will step down at the end of June, Mining Zimbabwe can report.

By Rudairo Mapuranga

Mtombeni, a mining veteran with more than 20 years of experience, will become CEO-designate on June 1 and assume full responsibilities on July 1, the state-owned diamond company said in a statement dated May 28. He has been acting chief operating officer since 2024 and previously served as mine manager and general manager of operations at ZCDC.

Zimbango, who joined the company as a non-executive director in 2022 before being seconded to lead the executive team in January 2024, will leave on June 30. The board cited a “particularly challenging time for the diamond industry” during his tenure.

Chairman Onesimo Mazai Moyo expressed confidence that Mtombeni’s deep understanding of the company and operational track record, including managing River Ranch Diamonds and Pickstone-Peerless Gold Mine, positions him well for the next phase of growth.

ZCDC, the country’s largest diamond producer, said the leadership transition will not disrupt operations or strategic direction.