Crippling power cuts afflict RioZim

Listed miner, RioZim, has been hit by crippling power cuts adversely impacting on production across all its mining operations. Gold production at Rena) Mine plunged 21% in the quarter to March 31, 202...

By Staff reporter | Published: 02 June 2022


RioZim, Zesa to ink power deal

RIOZIM says its US$1,5 billion investment into building a 2 800 megawatts thermal power station in Sengwa, Gokwe North, remains firmly on course with the company now moving to the next phase of prelim...

By Staff reporter | Published: 10 July 2019


RioZim makes appointments

ZIMBABWE Stock Exchange-listed mining group, RioZim, has appointed Mr Saleem Rashid Beebeejaun as chairman with effect from June 25, 2019. He takes over from Mr Lovemore Chihota who recently celebrate...

By Staff reporter | Published: 01 July 2019


RioZim records net loss of US$2,3m

One of the country's top gold producers, RioZim reported a net loss of US$2,3 million in the year ended December 2018 from a net profit of US$8,1 million in 2017 due to a 13% decline in gold output.Th...

By Staff reporter | Published: 30 April 2019


RioZim sues RBZ over US$ payments

Resources group, RioZim, has sued the central bank to force it to pay over $92 million it claims is owed dating back to 2016 in a case that highlights the acute dollar shortages blighting the southern...

By Staff reporter | Published: 22 November 2018


RioZim H1 gold output rises

Resources group, RioZim Limited's half year gold production rose 20 percent to 1 050 kilograms from 873 kilograms in the same period last year as production at its three mines was ahead of comparable ...

By Staff reporter | Published: 30 September 2018


RioZim loses court case

Diversified mining group, RioZim Ltd's latest attempt to have the loan it obtained from Trust Bank reduced to $500 000 from $1,8 million suffered another setback after the High Court of Zimbabwe dismi...

By Staff reporter | Published: 27 September 2018


RioZim bemoans 'punitive' royalties

ROYALTIES on Zimbabwean-mined diamonds have remained punitive, scaring away investors and disadvantaging local players, diversified resources firm RioZim has said.The firm's chief executive officer Bh...

By Staff reporter | Published: 05 July 2018


Investors flood RioZim

The re-engagement thrust adopted by President Mnangagwa's administration since November last year has unlocked opportunities for local companies to attract credit lines and/or investors for several ke...

By Staff reporter | Published: 24 June 2018


RioZim to sell majority stake in Sengwa plant

RioZim Limited intends to sell majority shareholding to an investor who wins its tender to construct an ambilion thermal power station in Sengwa, Gokwe North, according to company sources. ZSE listed ...

By Staff reporter | Published: 25 May 2018


RioZim evaluating Zimbabwe power plant bids

Zimbabwean miner RioZim Ltd. is evaluating proposals from six companies to participate in its $1.2 billion power project, as the nation enjoys a return of foreign-investor attention under President Em...

By Bloomberg | Published: 17 May 2018


General Electric among five shortlisted by RioZim

New York Stock Exchange (NYSE) listed conglomerate, General Electric, is among five foreign investors that diversified Zimbabwe Stock Exchange (ZSE) listed miner RioZim hasshort-listed to develop its ...

By Staff reporter | Published: 20 April 2018


Global investors eye RioZim thermal power project

Five major global investors are vying to partner listed resources group RioZim Limited for its apparently lucrative multi-billion Sengwa thermal power project, management has said. Interest in the pro...

By Staff reporter | Published: 06 April 2018


RioZim to explore for diamonds

ZIMBABWE Stock Exchange-listed miner RioZim expects to start exploration for diamonds this month on its 3 000-hectare piece of land in Chivi, as the group eyes expansion. Chief executive Bhekinkosi Nk...

By Staff reporter | Published: 04 April 2018


RioZim ups gold, diamond production

Zimbabwe Stock Exchange-listed resources group, RioZim, says its gold and diamond production significantly went up last year despite struggling to get its foreign currency earnings from the central ba...

By Staff reporter | Published: 03 April 2018


RioZim looks into upgrading ENR

LISTED mining group, RioZim Limited is exploring various ways to upgrade its Empress Nickel Refinery (ENR) as the plant is a strategic asset with potential to contribute significantly to the economy.R...

By Staff reporter | Published: 02 April 2018


RioZim requires $125m for Murowa diamonds

At least $125 million is required to extend the lifespan of Murowa Diamond Mine by an additional three years, and to push output beyond one million carats per annum, an official said yesterday. Murowa...

By Staff reporter | Published: 06 March 2018


Renewed interest in $1,2bn RioZim project

LISTED resources firm, RioZim, says investors have renewed their interest in the $1,2 billion Sengwa thermal power project, after being scared away by policy somersaults and currency instability, whic...

By Staff reporter | Published: 01 March 2018


'RioZim not retrenching'

ZIMBABWE Stock Exchange listed miner, RioZim, has refuted reports it intends to retrench scores of workers at its recently acquired Dalny Mine saying that it had infact employed new people it the once...

By Staff reporter | Published: 08 January 2018


Dalny Mine boosts RioZim operations

Listed miner RioZim says the growth of its revenues by 16 percent to $37,8 million in the six months to June 2017 was as a result of the acquisition of Dalny Mine.The group recently snapped up Dalny M...

By Staff reporter | Published: 15 September 2017


RioZim reports increased gold production

MINING concern, RioZim gold production for the half year ended June 30, 2017 rose 13 percent to 873 kilogrammes helping the group's comprehensive profit swing in the positive.RioZim reported $2,9 mill...

By Staff reporter | Published: 15 September 2017


AfrAsia challenges court's decision on RioZim

AfrAsia Bank has filed an appeal at the Supreme Court challenging the High Court's decision to nullify the deed of settlement signed between the bank and mining company RioZim.This comes as the bank l...

By Staff reporter | Published: 19 July 2017


RioZim not paying $4.5m AfrAsia debt

RIOZIM Limited has decided not to honour an ostensible $4,5 million debt owed to AfrAsia Bank, which is presently in liquidation, after it emerged the financial institution could have unfairly bloated...

By Staff reporter | Published: 12 July 2017


Chihota takes control of RioZim operations

RioZim Ltd chairman Lovemore Chihota has taken over the day-to-day management of the mining group amid indications he now has an office and works closely with external managers, the Zimbabwe Independe...

By Staff reporter | Published: 12 July 2016


GEM ups RioZim stake

RioZim's largest shareholder, Gem RioZim Investments Limited (GEM), has increased its shareholding in the listed mining group from 24,97 percent to 28,3 percent.This follows shareholders' approval to ...

By Staff reporter | Published: 07 June 2015

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