The Sunday Mail
THE chief executive officer of listed mining concern RioZim, Mr Ashton Ndhlovu has resigned effective October 13 1014 to persue personal business interests, the Zimbabwe Stock Exchange (ZSE) website announced today.
Mr Noah Matimba will be the acting chief executive “until the selection process is complete”.
The mining concern reported that losses widened to US$7,5 million in the first six months of the year from US$2,9 million a year ago as turnover tumbled 31 percent to US$39,9 million from US$56,8 million a year ago.
There was lower production at Empress Nickel Refinery and Renco.
Commodity prices, especially of gold and copper, also continue to drop.
RioZim, which owns 22 percent of Murowa Diamonda Mine, with international mining giant Rio Tinto owning the remainder, is presently actively seeking funds to resuscitate Cam & Motor gold mine, which has been closed for the past 46 years.
It also owns Renco Mine in Masvingo and Empress Nickel Refinery.
