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RioZim mines resume operations

Zimbabwe Stock Exchange-listed miner RioZim has resumed operations at three of its gold mines after reaching an agreement with the Reserve Bank of Zimbabwe (RBZ) over forex allocation, which has been affecting its operations.

RioZim temporarily closed Cam and Motor Mine 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 company chief executive Mr Beki Nkomo recently announced that 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 three of its gold mines.

In an interview yesterday, RioZim head of corporate affairs executive, Mr Wilson Gwatiringa said the company was resuming operations this week after engaging in fruitful negotiations with RBZ.

“Yes, we are preparing to restart operations at all the three gold mines by end of this week,” he said.

Source :

The Herald

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