Business Reporter
DIVERSIFIED resource firm RioZim Limited has disposed of its 22,2 percent stake in associate diamond mining company RZM Murowa for ZiG 600,51 million, generating a gain of ZiG 303,7 million.
The transaction is part of a strategic drive to reduce its debt burden, the company said in the half-year financial statement to June 2026.
Murowa’s ongoing operational and funding challenges prompted the decision to exit the diamond mining firm, resulting in zero diamond production during the period under review and a share loss of ZiG 39,6 million attributed to RioZim before the investment was derecognised.
Disposal proceeds were set off directly against existing loan balances owed to RZM Murowa, the company said.
RZM Murowa is a Zimbabwean diamond producer operating in the Mazvihwa area near Zvishavane in the Midlands Province.
Originally developed in the late 1990s and commencing commercial production in 2004 under global mining group Rio Tinto, the operation transitions between open-pit and underground mining across three main kimberlite pipes.
Renowned for producing high-value, gem-quality diamonds, Murowa historically served as one of the country’s primary private diamond mines alongside state-driven operations in Marange.
During the first half of the year, RioZim recorded a net profit of ZiG1,3 billion for the half-year ended June 30, 2026, recovering from a loss of ZiG 300,65 million during the same period in 2025.
