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Natasha Chamba, Business Reporter
ZIMBABWE Stock Exchange-listed miner, RioZim Limited has announced full scale resumption of gold mining operations following clearance of arrear payments facilitated by the Reserve Bank of Zimbabwe.

In a Press statement on Friday the miner notified its stakeholders that the company’s gold operations were back to normal.

“RioZim Limited wishes to notify all of its stakeholders that the company has resumed full production.

This development follows the fruitful discussions held with the Reserve Bank of Zimbabwe, which facilitated the clearance of all arrear payments thus allowing the company to resume its normal operations.”

The mining group had recently temporarily closed Cam and Motor Mine in Kadoma, Renco Mine in Masvingo and Dalny Mine in Chegutu citing lack of foreign currency.

Last year in October, the mine again shut down operations saying it had run out of foreign currency to import critical consumables and spare parts.

The mine resumed operations in November after the RBZ allowed gold producers to maintain 55 percent of their export earnings in foreign currency nostro accounts. The RioZim board, however, said two weeks ago that the RBZ through its wholly-owned subsidiary, Fidelity Printers and Refineries (Private) Limited, had been failing to meet its commitments.

The company said it was experiencing significant and persistent delays in payment of its foreign currency allocation for deliveries made to Fidelity Printers and Refineries since last December which was severely affecting the viability of its operations. — @queentauruszw