{"id":39,"date":"2025-11-13T13:05:11","date_gmt":"2025-11-13T13:05:11","guid":{"rendered":"https:\/\/www.zimining.co.zw\/index.php\/2025\/11\/13\/indonesias-largest-fleet-of-taxis-teams-up-to-beat-ride-hailing-apps\/"},"modified":"2026-03-21T15:53:27","modified_gmt":"2026-03-21T15:53:27","slug":"riozim-output-plunges-in-2024-as-miner-seeks-20-million-equity-lifeline","status":"publish","type":"post","link":"https:\/\/www.zimining.co.zw\/index.php\/2025\/11\/13\/riozim-output-plunges-in-2024-as-miner-seeks-20-million-equity-lifeline\/","title":{"rendered":"RioZim output plunges in 2024 as miner seeks $20 million equity lifeline"},"content":{"rendered":"

DIVERSIFIED miner RioZim reported sharp declines in production and deepening losses in 2024, prompting talks with a potential investor over a planned US$20 million equity injection to stabilise operations.<\/p>\n

The Zimbabwe-listed mining group, founded in 1956, operates across gold, nickel, copper, diamonds and coal. Results for the year ended Dec. 31, 2024 show significant pressure on output and profitability.<\/p>\n

Chairman Saleem Beebeejaun said operational disruptions were the main drivers of the decline. These included prolonged industrial action at the Renco gold mine and frequent equipment breakdowns at the Cam & Motor mill.<\/p>\n

Gold production fell 54% to 428 kilograms in 2024, down from 940 kilograms the previous year, he said.<\/p>\n

Base-metal operations remain halted, with the Empress Nickel Refinery under care and maintenance. Negotiations to secure raw material supplies are still ongoing.<\/p>\n

Diamond production at RioZim\u2019s Murowa associate also weakened. Output dropped 47%, resulting in a 13% decline in carat production to 359,000.<\/p>\n

The group reported a comprehensive loss of ZWG 820 billion, compared with a loss of ZWG 85 billion in 2023. The deterioration was largely driven by increased foreign-exchange losses.<\/p>\n

Beebeejaun said the company is in advanced discussions with an investor willing to inject US$20 million in working capital. The funding would be provided in exchange for a majority equity stake, subject to due diligence and regulatory approvals.<\/p>\n

He said RioZim is also considering additional funding options to revive stalled energy projects. Progress, however, remains on hold until financing is secured.<\/p>\n

Analysts say RioZim\u2019s challenges reflect broader pressures across Zimbabwe\u2019s mining sector. Ageing infrastructure, persistent power outages and labour disputes continue to weigh on production.<\/p>\n

Similar constraints have also been cited in the artisanal and small-scale mining sector, where limited access to finance and energy continues to affect productivity<\/a> and environmental standards, according to development programmes working with miners.<\/p>\n

The company warned shareholders to exercise caution when trading its securities. It said further updates would be issued as discussions with investors progress.<\/p>\n","protected":false},"excerpt":{"rendered":"

DIVERSIFIED miner RioZim reported sharp declines in production and deepening losses in 2024, prompting talks with a potential investor over a planned US$20 million equity injection to stabilise operations. The Zimbabwe-listed mining group, founded in 1956, operates across gold, nickel, copper, diamonds and coal. Results for the year ended Dec. 31, 2024 show significant pressure […]<\/p>\n","protected":false},"author":1,"featured_media":285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","video":"https:\/\/www.youtube.com\/watch?v=YdJc7-ZEuT0","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"4","show_post_tag":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":"Production disruptions, power challenges and currency losses weigh on diversified mining group"},"jnews_primary_category":{"id":"20"},"jnews_paywall_metabox":{"paragraph_limit":"2","enable_premium_post":"0","enable_free_post":"0","override_paragraph_limit":"0","enable_preview_post":"0","enable_preview_video":"0"},"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[59,381,42],"tags":[98,96,95,97],"class_list":["post-39","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-updates","category-finance-investment","category-zimbabwe-mining-news","tag-investor-funding","tag-production-decline","tag-riozim","tag-zimbabwe-mining-companies"],"_links":{"self":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts\/39","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/comments?post=39"}],"version-history":[{"count":3,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts\/39\/revisions"}],"predecessor-version":[{"id":547,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts\/39\/revisions\/547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/media\/285"}],"wp:attachment":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/media?parent=39"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/categories?post=39"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/tags?post=39"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}