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Home » RioZim to dispose of Renco
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RioZim to dispose of Renco

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RioZim said Renco requires about US$20 million in addition­al capital expenditure to modernise underground infrastructure, refurbish its processing plant and restore sustainable production. The company said its financial position makes the investment difficult to undertake internally.
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RIOZIM Limited is seeking shareholder approval to dispose of its Renco gold mine for at least US$35 million as part of a bal­ance sheet restructuring programme aimed at reducing debt and improving liquidity. The proposed transaction involves the sale of Renco as a going concern to an unrelated third party, including its mining claims, land,…

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