Articles tagged 'riozim'

RioZim resumes operations 17 February 2019 LISTED resources group RioZim has resumed operations at its three gold mines after receiving arrear payments from the central bank.
Uproar as military grabs RioZim mine 4 October 2018 HARARE - Listed mining company RioZim Limited (RioZim) has dragged Defence and War Veterans minister Oppah Muchinguri-Kashiri to the High Court after one of its mines was apparently grabbed and handed over to two military-linked companies. This comes after Muchinguri-Kashiri is said to have un...
RioZim profits dip 2 October 2018 HARARE - RioZim says its profits declined 86 percent to $406 000 during the half year ended June 30, 2018 compared to $2,90 million in the previous period. However, the group's revenues increased to $44,4 million due to an 18 percent increase in gold sales' volumes to 1 007kg from 852kg and a ...
Dalny Mine boosts RioZim operations 15 September 2017 HARARE - 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 Mine from Falcon Gold for $8 million, with the resources firm paying $250 000 for the...
RioZim courts suitor for $2bn Sengwa power plant 19 June 2017 HARARE – Listed resources firm, RioZim, is in discussions with a potential investor to kick-start its $2,2 billion Sengwa thermal power project. Anticipated to result in the generation of 2 400 megawatts (MW) of power, the project has been on the cards since the 1990s. RioZim, which began a...
'RioZim operations under threat' 4 April 2017 HARARE - Auditing firm Ernst & Young Chartered Accountants Zimbabwe (EY) has raised a red flag over RioZim's operations despite the listed resources firm registering a $2,5 million profit last year. "The group's current liabilities exceeded its current assets by $30,8 million,” EY said in a st...
RioZim eyes higher gold production 30 October 2016 KADOMA - Listed resources firm, RioZim, says it is targeting a 200 kilogrammes (kg) monthly gold production, following the commissioning of its Cam and Motor Plant and its recent acquisition of Dalny Mine Complex (Dalny). The firm's outgoing chief executive, Noah Matimba, on Wednesday said the...
RioZim boss under fire 14 June 2016 HARARE - RioZim chairman Lovemore Chihota has come under fire from the company's shareholders and other interested stakeholders for misleading the nation on the Murowa Diamonds (Murowa) deal. Chihota told the country that global resources firm Rio Tinto, which operated in Zimbabwe for close to...
GEM ups RioZim stake 26 February 2015 HARARE - 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 issue two million ordinary shares to GEM in settlement of a fee to underwrite RioZim...
Gem advances RioZim $700k, as miner unveils $10m rights issue 30 January 2015 HARARE - Gem RioZim Investments (Gem) has advanced RioZim Limited (RioZim) $700 000 as part of its subscription towards the miner's proposed $10 million rights offer to fund the resuscitation of its Cam and Motor gold mine. Gem holds a 24,97 percent stake in RioZim and will fully underwrite th...
RioZim shareholders negotiate rights issue 16 December 2014 HARARE - RioZim Limited says it is still negotiating with shareholders over plans to embark on a rights issue to raise funds to resuscitate its Cam & Motor gold mine. The Kadoma-based mine — once Zimbabwe's largest gold producer — was mothballed in 1968, and RioZim says it still has capacity t...
RioZim CEO mum on 'hasty' resignation 17 October 2014 HARARE - RioZim Limited (RioZim)’s former chief executive Ashton Ndlovu has refused to speak on his abrupt resignation from the listed mining concern. While the group said his departure was “unexpected”, Ndlovu – a former chairpers+on of KW Blasting – said “just take it as it is (RioZim’s stat...
RioZim back in the red 26 August 2014 HARARE - Zimbabwe Stock Exchange-listed mining concern RioZim Limited (RioZim) has recorded a net loss of $7,5 million in the half year to June 2014 due to high finance costs and unbudgeted for expenses. Elisha Mushayakarara, the group chairperson  said lower production at Empress Nickel Refin...
RioZim in Sengwa due diligence 14 May 2013 HARARE - Listed diversified resources group RioZim says it carrying out a due diligence exercise to produce an initial 150 megawatts (MW) at its Sengwa thermal power station project. Ashton Ndlovu, RioZim s chief executive, said the group was considering various options to fund the first phase of...
RioZim loses $5m in mine standoff 31 March 2013 HARARE - Listed mining concern RioZim Limited (RioZim) says it lost a staggering $4,5 million due to disruptions at its Masvingo-based Renco gold mine. Renco s operations ground to a halt after what started off as a salaries and benefits strike by the mine s workers wives in January, turned polit...
RioZim sued over R16m debt 27 February 2013 HARARE - A South African mining supplier has filed a lawsuit against RioZim Limited (RioZim) over a R16 million debt. The company Boltgas Industrial and Mining yesterday filed a High Court application demanding their outstanding payment from the listed resources group. According to court papers, ...
RioZim seeks court intervention 1 February 2013 HARARE - Zimbabwe Stock Exchange-listed resources group RioZim Limited (RioZim) yesterday filed an urgent High Court application to bar politicians from disrupting operations at its Renco gold mine. What started off as a salaries and benefits dispute by the mine s workers wives last week, turned ...