Browsing: RioZim

Riozim Limited the Zimbabwe based, and Zimbabwe Stock Exchange-listed diversified miner, has more going wrong for it than right.

For a mining company looking at news reports around it, analyst coverage and its financial reports one cannot help but wonder if all is well at one of the oldest ZSE-listed mining companies.

The company has been in the news for poor labour relations with its workers and for poor operational and financial performance and it looks like there is no end in sight for the troubled miner. Investors on the ZSE and in the diversified miner got some reprieve when Bloomberg broke the story that Riozim had bought a diamond miner in Namibia in a move meant to herald the company’s foray into the rest of the continent and increase its investment activities in Zimbabwe.

• RioZim can be reasonably called a beleaguered or troubled company. It is not exactly

Biological Oxidation is the latest technology that ensures better processing of gold ores with high Sulphur content. Ores at Cam and Motor gold mine have high Sulphur concentration increasing cyanide consumption during the leaching process.

The technology uses bacteria to reduce Sulphur content before cyanidation. The mine is reported to have received 20 litres of bacteria from neighbouring South Africa and has developed enough to feed the three tanks. This innovative solution for the treatment of ores significantly reduces cyanide consumption, therefore reducing operating costs.

The BIOX plant is one of the key projects expected to get the firm’s turnaround strategy back on track. According to RioZim’s abridged press circular, recent geological and metallurgic test work revealed that with the current technology and the grades of ore, Cam and Motor can produce significant amounts of gold at a competitive cost of production.…