RioZim misses out on gold boom

At an extraordinary general meeting held virtu­ally last week Wednesday, shareholders voted 100 percent in favour of the disposal of the gold mine to an unrelated third-party purchaser.

RIOZIM has not been able to capitalise on the gold price record run due to undercapitalised mining operations, resulting in depressed volumes and high production costs. This comes as gold prices last week plunged by around 10 percent to below US$4 000 per ounce, the steepest weekly fall in years. However, analysts, including JP Morgan,…

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