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Search results: RioZim

Blackouts cripple RioZim operations

RioZim Limited (RioZim) says power supply challenges remain a key risk to the sustainability of its operations. Despite the company putting in place diesel generators to lessen production stoppages, in its trading update for the third quarter...

‘RioZim not in distress despite mine closure’

Diversified miner, RioZim, has dismissed the proposition by a workers’ union to place the company under corporate rescue, a form of local bankruptcy protection, saying the company is not “financially distressed” and at any time, can...

RioZim buys a Namibian Diamond Mine for US$58million

RioZim Ltd. has bought Sperrgebiet Diamond Mine in Namibia as the Zimbabwean group seeks to expand in Africa.“The group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part...

RioZim burns $13 billion

CURRENT liabilities at the listed multi-asset resource outfit, RioZim, barrelled over current assets by $13 billion during the half-year to June 30, 2022, financial statements showed, as terrified authorities feared the firm could collapse. Firms sitting on...

Workers threaten to apply for placement of RioZim under judiciary management

Zimbabwe Stock Exchange-listed diversity miner, RioZim limited's workers have threatened to apply for the placement of the company and its subsidiaries under corporate rescue as they deem the group to be under financial distress due to...

RioZim retrenched workers cry foul

The Solidarity Mine Workers Union of Zimbabwe (SOMWUZ) has dragged into the spotlight diversified mining group RioZim Limited over unpaid packages of 191 workers retrenched last month.Speaking to a local daily, Newsday, SOMWUZ secretary-general Prince Mpala...

Struggling Riozim’s Dalny mine in 6 months blackout

RioZim Limited’s Chakari-based mine, Dalny mine, has been without power for over half a year due to a huge electricity debt, it has been revealed. Rudairo Mapuranga There have been reports that RioZim has been struggling to pay...

RioZim owners announce new 78% Shareholder to aid resuscitation

Sperrgebiet Diamond Mining (SDM) this week announced its majority equity investment by Global Emerging Markets Group (GEM), the miner said.The mining company highlighted this among other investments adding that the resources division of the GEM Group...

RioZim workers threaten a massive strike

In a bid to force diversified group RioZim Limited to bend over to their demands for reasonable remuneration, employees working at the group's mines have threatened to withdraw their services until their demands for fair compensation...

RioZim’s gold production to rebound on Cam and Motor’s return

Diversified resources group, RioZim Limited, says gold production is forecast to improve as Cam and Motor, the group’s high grade ore flagship gold mine is set to resume production.For the past two years, there was no...

Exchange rate crisis weighs down RioZim

PRODUCTION at listed multi-asset mining concern, RioZim, was affected by exchange rate distortions during the year ended December 31, 2021.The firm said operations were affected by power outages across its mines, along with policy inconsistencies.The firm...

Sengwa project, RioZim pursues state guarantee

RioZim Limited has proposed a partnership with Government for its multi-million dollar coal fired power project in Sengwa, Gokwe North, as the firm seeks sovereign guarantee to break barriers to external funding.The Sengwa North project is...

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