[pretoria] - Three Zimbabwe gold mines shut down operations over forex challenges

  |   Pretorianews

HARARE – Operations at three Zimbabwe gold mines owned by ZSE listed RioZim have been suspended as the company – which also runs the Murowa diamond mine – failed to get foreign currency earnings from gold sales through a unit of the Reserve Bank of Zimbabwe.

RioZim is among the biggest mining companies in Zimbabwe but has been struggling for viability. It has failed to get gold sales proceeds, which it required to pay for imported equipment and production implements.

On Friday the company said it has been “forced to suspend operations across all three of its gold mines pending full payment of its foreign currency proceeds which is required in order to procure the necessary consumables needed to keep gold production” running....

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