Rio Zim To Resume Operations On It’s Three Gold Mines


ZIMBABWE Stock Exchange-listed miner RioZim has resumed operations at three of its gold mines after reaching an agreement with Reserve Bank of Zimbabwe (RBZ) over foreign currency allocation.

RioZim temporarily closed Cam and Motor in Kadoma, Renco Mine in Masvingo and Dalny Mine in Chegutu last month citing shortage of foreign currency needed to import critical consumables and spare parts.

The mining giant required at least $20 million in foreign currency for the importation of the critical consumables and spare parts to enable it to resume production at the three of its gold mines, according to Rio Zim Chief Executive Beki Nkomo.

In an interview yesterday, Rio Zim head of corporate affairs, Mr Wilson Gwatiringa said the company was resuming operations this week after having engaged in fruitful negotiations with RBZ.

“Yes we are preparing to restart operations at all the three gold mines by end of this week,” said Mr Gwatiringa.
The Herald is also in possession of a circular sent to workers notifying them about the new
development.

More to follow…