RioZim closes 3 mines over forex crisis

RIOZIM has pleaded for government intervention after it suspended operations of its major mines due to foreign currency shortages.

In a communique gleaned by NewsDay addressed to the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, copied to Finance minister Mthuli Ncube and his Mines counterpart, Winston Chitando, RioZim chairman Lovemore Chihota said over the past 30 months, RioZim has only received 14% of its money in forex against a RBZ directive of 50% directly to its nostro account and 50% through application to the central bank.

“In the nine weeks preceding the closure of production at the mines, we have received almost no foreign exchange.

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