Zimbabwe News Update
expressmail
13 min read
cam & motor mines workers said they believed the union’s decision was unfair and contrary to the labour act chapter 28:01, which requires majority opinion and unanimous employee consent in significant decisions affecting employees’ interest.newsriozim limited workers say they are against the company being placed under corporate rescue following the successful reopening of renco mine after a landmark capital-raising exercise provided the much-needed funding to revive the whole group.the high court has scheduled the hearing for the riozim limited corporate rescue application for tomorrow – (wednesday november 12) according to a notice from the registrar of the high court.the zimbabwe diamond & allied minerals workers union (zdamwu) which represents 12 percent of the entire riozim workforce has been pushing for the company to be placed under corporate rescue a move market analysts, creditors and investors say was being done for selfish reasons which are not business related.corporate rescue is a process aimed at reviving a financially distressed company.
the process provides a temporary moratorium on legal proceedings against the company, allowing a business rescue practitioner to develop and implement a plan to return the company to solvency.according to a letter from workers of riozim limited’s cam & motor mine signed by their chairman isaac mariki and secretary velord mashapa to the ministry of public service, labour and social welfare and the national employment council – mining industry dated november 10, 2025, zdamwu’s decision to call for the companying company to be placed under corporate was misguided.“we the workers of riozim limited cam & motor mine, write to object to the decision by the zimbabwe diamond & allied minerals workers union (zdamwu) to apply for the placement of riozim limited under corporate rescue, a matter now before the high court, case number hch1945/24,” reads part of the letter.the staff members said the decision was made without consultation with the workers’ committee or the majority of employees.“the union (zdamwu) represents only a minority of the workforce and notably, several of its own members have expressed disagreement with the action taken,” reads part of the letter.it is important to note that almost all creditors had already accepted payment plans yet when zidamwu was offered payment for what it is owed it turned it down, to push for corporate rescue.they approached the court on the basis that they are owed money by the company for subscriptions and that the company had failed to pay, yet they turned down a tender for payment.“the move has caused confusion and uncertainty at the workplace and does not reflect the collective position of the employees, most of whom wish to see the company recover through ongoing operational efforts rather than through court intervention,” the letter said.cam & motor mines workers said they believed the union’s decision was unfair and contrary to the labour act chapter 28:01, which requires majority opinion and unanimous employee consent in significant decisions affecting employees’ interest.“we cannot have a union which represents less than 12 percents of the entire group making noise and pushing in a direction that that 80 percent of the organization are against.
what is sad it that, the union’s executive and probably a few workers they represent seem to lack financial literacy and implications of what they are calling for to the whole company, workers, their extended families and country as a whole,” a senior worker at riozim said.last week some members of zdamwu were advised to stay away from issues they do not understand by some employees’ spouses or risk being man handled.riozim, which is currently implementing a robust turnaround strategy, is showing signs of reviving its operations, following the revival of one the group’s gold assets, renco mine.combined with resumed activity across riozim’s other operations, the mining concern seems to have turned a new leaf following years of decline which had severely affected workers.“surely placing riozim under corporate rescue will not only expose zdamwu’s appreciation of how listed companies are run but also wasting the judicial system’s time and insulting their intelligence,” another worker said.between mid-september and october, renco mine produced approximately 20 kilogrammes of gold, signalling a strong return to productivity.the restart has also safeguarded over 1 200 jobs, ensuring continued livelihoods for families and communities that depend on the mine.this milestone, combined with resumed activity across riozim’s other operations, underscores the company’s transition from a survival phase to one of strategic recovery and growth, with profitability prospects strengthened by sustained high gold prices.leave a replycancel reply cam & motor mines workers said they believed the union’s decision was unfair and contrary to the labour act chapter 28:01, which requires majority opinion and unanimous employee consent in significant decisions affecting employees’ interest.newsriozim limited workers say they are against the company being placed under corporate rescue following the successful reopening of renco mine after a landmark capital-raising exercise provided the much-needed funding to revive the whole group.the high court has scheduled the hearing for the riozim limited corporate rescue application for tomorrow – (wednesday november 12) according to a notice from the registrar of the high court.the zimbabwe diamond & allied minerals workers union (zdamwu) which represents 12 percent of the entire riozim workforce has been pushing for the company to be placed under corporate rescue a move market analysts, creditors and investors say was being done for selfish reasons which are not business related.corporate rescue is a process aimed at reviving a financially distressed company.
the process provides a temporary moratorium on legal proceedings against the company, allowing a business rescue practitioner to develop and implement a plan to return the company to solvency.according to a letter from workers of riozim limited’s cam & motor mine signed by their chairman isaac mariki and secretary velord mashapa to the ministry of public service, labour and social welfare and the national employment council – mining industry dated november 10, 2025, zdamwu’s decision to call for the companying company to be placed under corporate was misguided.“we the workers of riozim limited cam & motor mine, write to object to the decision by the zimbabwe diamond & allied minerals workers union (zdamwu) to apply for the placement of riozim limited under corporate rescue, a matter now before the high court, case number hch1945/24,” reads part of the letter.the staff members said the decision was made without consultation with the workers’ committee or the majority of employees.“the union (zdamwu) represents only a minority of the workforce and notably, several of its own members have expressed disagreement with the action taken,” reads part of the letter.it is important to note that almost all creditors had already accepted payment plans yet when zidamwu was offered payment for what it is owed it turned it down, to push for corporate rescue.they approached the court on the basis that they are owed money by the company for subscriptions and that the company had failed to pay, yet they turned down a tender for payment.“the move has caused confusion and uncertainty at the workplace and does not reflect the collective position of the employees, most of whom wish to see the company recover through ongoing operational efforts rather than through court intervention,” the letter said.cam & motor mines workers said they believed the union’s decision was unfair and contrary to the labour act chapter 28:01, which requires majority opinion and unanimous employee consent in significant decisions affecting employees’ interest.“we cannot have a union which represents less than 12 percents of the entire group making noise and pushing in a direction that that 80 percent of the organization are against.
what is sad it that, the union’s executive and probably a few workers they represent seem to lack financial literacy and implications of what they are calling for to the whole company, workers, their extended families and country as a whole,” a senior worker at riozim said.last week some members of zdamwu were advised to stay away from issues they do not understand by some employees’ spouses or risk being man handled.riozim, which is currently implementing a robust turnaround strategy, is showing signs of reviving its operations, following the revival of one the group’s gold assets, renco mine.combined with resumed activity across riozim’s other operations, the mining concern seems to have turned a new leaf following years of decline which had severely affected workers.“surely placing riozim under corporate rescue will not only expose zdamwu’s appreciation of how listed companies are run but also wasting the judicial system’s time and insulting their intelligence,” another worker said.between mid-september and october, renco mine produced approximately 20 kilogrammes of gold, signalling a strong return to productivity.the restart has also safeguarded over 1 200 jobs, ensuring continued livelihoods for families and communities that depend on the mine.this milestone, combined with resumed activity across riozim’s other operations, underscores the company’s transition from a survival phase to one of strategic recovery and growth, with profitability prospects strengthened by sustained high gold prices.
riozim limited workers say they are against the company being placed under corporate rescue following the successful reopening of renco mine after a landmark capital-raising exercise provided the much-needed funding to revive the whole group.the high court has scheduled the hearing for the riozim limited corporate rescue application for tomorrow – (wednesday november 12) according to a notice from the registrar of the high court.the zimbabwe diamond & allied minerals workers union (zdamwu) which represents 12 percent of the entire riozim workforce has been pushing for the company to be placed under corporate rescue a move market analysts, creditors and investors say was being done for selfish reasons which are not business related.corporate rescue is a process aimed at reviving a financially distressed company.
the process provides a temporary moratorium on legal proceedings against the company, allowing a business rescue practitioner to develop and implement a plan to return the company to solvency.according to a letter from workers of riozim limited’s cam & motor mine signed by their chairman isaac mariki and secretary velord mashapa to the ministry of public service, labour and social welfare and the national employment council – mining industry dated november 10, 2025, zdamwu’s decision to call for the companying company to be placed under corporate was misguided.“we the workers of riozim limited cam & motor mine, write to object to the decision by the zimbabwe diamond & allied minerals workers union (zdamwu) to apply for the placement of riozim limited under corporate rescue, a matter now before the high court, case number hch1945/24,” reads part of the letter.the staff members said the decision was made without consultation with the workers’ committee or the majority of employees.“the union (zdamwu) represents only a minority of the workforce and notably, several of its own members have expressed disagreement with the action taken,” reads part of the letter.it is important to note that almost all creditors had already accepted payment plans yet when zidamwu was offered payment for what it is owed it turned it down, to push for corporate rescue.they approached the court on the basis that they are owed money by the company for subscriptions and that the company had failed to pay, yet they turned down a tender for payment.“the move has caused confusion and uncertainty at the workplace and does not reflect the collective position of the employees, most of whom wish to see the company recover through ongoing operational efforts rather than through court intervention,” the letter said.cam & motor mines workers said they believed the union’s decision was unfair and contrary to the labour act chapter 28:01, which requires majority opinion and unanimous employee consent in significant decisions affecting employees’ interest.“we cannot have a union which represents less than 12 percents of the entire group making noise and pushing in a direction that that 80 percent of the organization are against.
what is sad it that, the union’s executive and probably a few workers they represent seem to lack financial literacy and implications of what they are calling for to the whole company, workers, their extended families and country as a whole,” a senior worker at riozim said.last week some members of zdamwu were advised to stay away from issues they do not understand by some employees’ spouses or risk being man handled.riozim, which is currently implementing a robust turnaround strategy, is showing signs of reviving its operations, following the revival of one the group’s gold assets, renco mine.combined with resumed activity across riozim’s other operations, the mining concern seems to have turned a new leaf following years of decline which had severely affected workers.“surely placing riozim under corporate rescue will not only expose zdamwu’s appreciation of how listed companies are run but also wasting the judicial system’s time and insulting their intelligence,” another worker said.between mid-september and october, renco mine produced approximately 20 kilogrammes of gold, signalling a strong return to productivity.the restart has also safeguarded over 1 200 jobs, ensuring continued livelihoods for families and communities that depend on the mine.this milestone, combined with resumed activity across riozim’s other operations, underscores the company’s transition from a survival phase to one of strategic recovery and growth, with profitability prospects strengthened by sustained high gold prices.
riozim limited workers say they are against the company being placed under corporate rescue following the successful reopening of renco mine after a landmark capital-raising exercise provided the much-needed funding to revive the whole group. the high court has scheduled the hearing for the riozim limited corporate rescue application for tomorrow – (wednesday november 12) according to a notice from the registrar of the high court. the zimbabwe diamond & allied minerals workers union (zdamwu) which represents 12 percent of the entire riozim workforce has been pushing for the company to be placed under corporate rescue a move market analysts, creditors and investors say was being done for selfish reasons which are not business related.
corporate rescue is a process aimed at reviving a financially distressed company. the process provides a temporary moratorium on legal proceedings against the company, allowing a business rescue practitioner to develop and implement a plan to return the company to solvency. according to a letter from workers of riozim limited’s cam & motor mine signed by their chairman isaac mariki and secretary velord mashapa to the ministry of public service, labour and social welfare and the national employment council – mining industry dated november 10, 2025, zdamwu’s decision to call for the companying company to be placed under corporate was misguided.
“we the workers of riozim limited cam & motor mine, write to object to the decision by the zimbabwe diamond & allied minerals workers union (zdamwu) to apply for the placement of riozim limited under corporate rescue, a matter now before the high court, case number hch1945/24,” reads part of the letter. the staff members said the decision was made without consultation with the workers’ committee or the majority of employees. “the union (zdamwu) represents only a minority of the workforce and notably, several of its own members have expressed disagreement with the action taken,” reads part of the letter. it is important to note that almost all creditors had already accepted payment plans yet when zidamwu was offered payment for what it is owed it turned it down, to push for corporate rescue.
