RioZim’s gold production fell by 80% to 84 kilogrammes in 2025 as power supply disruptions and working capital shortages forced the mining group to suspend operations, leaving the company with a net loss of ZWG739.1 million.
According to the company’s 2025 annual report, group revenue fell 47% to ZWG251.3 million from ZWG475.5 million in 2024, while the operating loss widened to ZWG528.1 million.
The company said the year was “highly challenging”, with operations affected by the temporary withdrawal of power supplies and severe working capital constraints.
However, RioZim secured a US$15 million loan facility from its new mining contractor, Feifan Mining (Private) Limited, towards the end of the year.
The funding supported the settlement of major statutory and trade creditors and helped the group resume gold mining at Renco in the fourth quarter.
RioZim said the partnership had “injected essential capital” into the business and provided a foundation for its operational recovery.
Renco accounted for all of the group’s 84kg gold production during the year after restarting operations in September 2025.
Cam & Motor, which did not produce gold during the year, began dewatering its mine as the company prepared for future production.
Related Stories
RioZim said its priority at Cam & Motor was now the refurbishment of the processing plant and installation of a second mill, with production expected to resume in the second half of 2026.
Management said it was “highly confident” that third-party funding, renewed operations and higher gold prices would support the group’s recovery.
The average gold price realised by the company increased 44% to US$3,436 per ounce from US$2,389 in 2024.
At year-end, RioZim said gold prices had reached approximately US$4,318 per ounce, creating an opportunity for the group to benefit from the stronger market once production improves.
The company’s associate, RZM Murowa, also recorded a decline in diamond production, with output falling 58% to 149,000 carats from 359,000 carats in 2024.
Despite the financial difficulties, RioZim recorded zero fatalities across its operations and reduced lost-time injuries from seven in 2024 to one in 2025.
The group employed 1,705 people at year-end, a 15% reduction as part of its operational restructuring.
RioZim said its focus going forward was on “operational resuscitation” and using favourable gold prices to rebuild production and cash flows.
Leave Comments