RioZim to dispose of Renco

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.

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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