RioZim, which produces gold, diamonds and nickel is considering a listing on Zimbabwe’s Victoria Falls Stock Exchange (VFSE), where trading is denominated in foreign currency.
“[The miner] is seriously considering all options available to it under the legal framework of the country and will move in consonance with such opportunities,” Bloomberg quoted company spokesperson Wilson Gwatiringa.
He said the decision to list on the VFSE would require shareholder approval, but it was “neither been proposed or voted upon”.
Bindura Nickel and Caledonia Mining are also planning to list on the bourse.
VFEX offers tax exemptions on capital gains and the ability to repatriate funds from Zimbabwe.
RioZim is planning to invest $450 million to expand its RZM Murowa diamond mine.
RZM Murowa recorded a 43% drop in output in the third quarter of 2021 compared to the same period, a year earlier.
The low diamond production was a result of processing low-grade ores from the K1 pit after the high-grade K2 pit reached pit life.
RZM Murowa produced 240 000 carats in the first six months of 2021, representing a 4% decline from the comparative period's 250 000 carats.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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