RioZim has registered a 43% fall in diamond output for the third quarter, this is in mining of low-grade ore after its higher-grade pit ran out.
RioZim is spending US$52m to lift capacity, but says the expansion is moving “at a slower pace than desired due to lack of adequate foreign currency.
Meanwhile, NewZwire also reports that RioZim Q3 gold output also fell down 7%.
Update shows how poor grades at its 2 main mines hit production. Cam & Motor output fell 31% due to poor grades.
Renco, long crippled by poor grades, managed just a 1% bump. “The group currently produces at a loss due to the forex & power situation.”
Apparently, the mining sector in Zimbabwe have been operating below installed capacity.
Capacity utilisation in the country’s industry has always been low for years.
Zwnews
