Exploration remains at the center of RioZim

By Leafias Mazviro

Zimbabwe stock exchange listed mining company RioZim has registered a 92% increase in Gold production from the comparative prior year’s first quarter from its Cam and Motor mine.

According to the company’s trading update of the 1st quarter of 2023, this was on the back of the Biological Oxidation (BIOX) plant that came into operation in Q2 2022, which has enabled the mine to upscale production volumes.

“Despite the notable improvement in production from the prior year, production from the BIOX plant is currently operating below name plate plant capacity and the focus in the current year is to continue upscaling production to the full capacity of the plant,” reads the statement.

Furthermore Dalny mine operated under full care and maintenance throughout the quarter. The mine embarked on small scale mining operations to reduce the cash flow impact of the fixed care and maintenance costs and production is expected from Q2, 2023.

However, Production at the Renco Mine fell by 2% from the same period in the prior year. Power supply challenges worsened during the quarter due to load shedding and unstable power infrastructure.

“The mine is focused on stabilising power supply to the mine to achieve stable production and various initiatives are being pursued including, among other efforts, investment in additional generators to increase capacity and coverage of the key activities in the mine’s production critical path”.

In addition the Group’s Associate, RZM Murowa (Private) Limited recorded a 20% increase in Diamond  production compared to the same period in the prior year due to increased throughput and plant capacity after commissioning the 500tph plant in Q3 2022. The mine continues to process material from its low grade stock piles. The mine is also expanding its exploration activities which are mainly centred on extending the life of its pits with a view to resuscitate mining operations in the current pits.

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