In a significant turnaround for a struggling mining operation, Renco Mine has been successfully reopened, securing the employment of more than 1,000 workers — marking a critical first step in parent company RioZim Limited’s broader recovery plan after a period of severe operational and financial distress, Mining Zimbabwe can report.
By Rudairo Mapuranga
The mine’s revival follows a comprehensive restructuring by RioZim, which included the appointment of a new board in July 2025 and the installation of Caleb Dengu as Chairman. Announcing the reviewed group interim financial results for the half year ended 30 June 2025, Dengu confirmed the development, stating this “strategic shift has already yielded tangible results. Notably, Renco Mine was successfully reopened, and the jobs of more than 1,000 workers have been secured.”
The first half of 2025 had proven exceptionally difficult. Dengu described it as a “particularly challenging period for the Group, marked by significantly reduced production across our mining operations.” He attributed these “operational difficulties” to “persistent undercapitalisation over the past three years, which severely constrained our ability to sustain production and invest in necessary infrastructure.”
However, the tide appears to be turning. Beyond Renco, Dengu confirmed that “plans to fully restart operations at Cam & Motor Mine are well underway, with full production expected before year-end.”
The operational improvements come amid a favourable gold market that saw prices surge 24% to close at US$3,302/oz. Despite this, Dengu noted that “the Group was unable to capitalise on this price surge due to limited production volumes during the period under review.”
He also pointed to a brighter macroeconomic backdrop, stating that despite the difficult environment, “we observed early signs of macroeconomic stability.” He credited the Government’s ongoing reforms aimed at creating a “more business-friendly climate,” which contributed to a “relatively stable local currency (ZWG), [and] helped mitigate inflationary pressures on local inputs and improved cost control.”
The reopening of Renco Mine stands as the first tangible result of the new board’s strategy to steer the Group back to operational and financial health.
