RioZim Suspends Planned Transactions After Court R…

📅 Published: August 17, 2025

📰 Source: zimbabwenow

Curated by AllZimNews.com

The High Court granted interim relief in favour of the applicants on 5 August, pending confirmation or discharge of the provisional order.

In a cautionary statement, RioZim said it intends to appeal the ruling.

The company explained that the planned transactions were expected to inject much-needed capital to pay employee salaries, settle creditor obligations, and resuscitate mining operations. “The action taken by the Zimbabwe Diamond and Allied Minerals Workers Union has prevented the Company from taking these much-needed initiatives to restart and continue mining operations, and to alleviate the current hardships being faced by the workers,” the board stated.

The company has now decided to put on hold all transactions mentioned in the earlier cautionary notice, pending the outcome of the appeal.

RioZim stressed its commitment to finding a “quick resolution” to the impasse so that mining and gold production activities can resume.

The board also urged shareholders and the investing public to exercise caution when dealing in the company’s securities until further updates are provided.

Munyaradzi Mashiri- Court CorrespondentIn a landmark judgment, the court has convicted and sentenced a medical student to two decades in jail for repeatedly raping his young daughter.

The accused, 42. 🔗

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