RioZim banks on fresh funding to stay afloat

RioZim’s financial position has been precarious for several years now owing to dwindling gold volumes- 27 percent down in the first half of 2024, low ore grades, antiquated equipment resulting in frequent plant breakdowns and several strikes leading to lost production time at some of its mines.

. . . as majority shareholders opt outAdvertisementsRIOZIM is betting on the finalisation of a major line of credit and a new ownership deal to turnaround its waning fortunes which could potentially revamp its production efficiencies and provide working capital.The Zimbabwe Stock Exchange (ZSE)-listed gold producer has for several years been running a high-cost inefficient…

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