{"id":31224,"date":"2022-10-12T13:25:21","date_gmt":"2022-10-12T13:25:21","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine"},"modified":"2022-10-12T13:37:20","modified_gmt":"2022-10-12T13:37:20","slug":"riozim-buys-luderitz-diamond-mine","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine","title":{"rendered":"RioZim buys L\u00fcderitz diamond mine"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>RioZim, the company that separated from Rio Tinto plc in 2004 to become a wholly owned Zimbabwean company, has reportedly purchased the Sperrgebiet Diamond Mine (SDM) which holds a combination of four onshore and offshore diamond mining licences in the restricted diamond areas around Lu\u0308deritz. SDM\u2019s mainland-based operation is situated at Elizabeth Bay, about 40km south of Lu\u0308deritz.<\/p>\n

It is believed RioZim, one of the biggest gold producers in Zimbabwe, paid more than N$1 billion for the diamond mine, although the purchase price has not been officially revealed.<\/p>\n

RioZim was initially incorporated in August 1956 as Rio Tinto Southern Rhodesia Ltd. It was initially established to develop and mine Zimbabwe\u2019s Empress Nickel deposit, which was the first mining operation to be set up outside Europe by Rio Tinto plc. Today, RioZim produces gold, coal, nickel and copper. The company is listed on the Zimbabwe Stock Exchange (ZSE).<\/p>\n

Yesterday, reports surfaced from various business publications that RioZim bought Sperrgebiet DM in Namibia as the Zimbabwean group seeks to expand in Africa as it aims to diversify its assets and geographies.<\/p>\n

\u201cThe group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part of the strategy,\u201d Tawanda Andrew Chiurayi, RioZim\u2019s group company secretary, told Bloomberg News.<\/p>\n

Bloomberg further reported that RioZim is planning further investments in base and precious metals in Zimbabwe, after spending more than US$150 million at its gold mine and a new plant at the Murowa diamond mine, Chiurayi said.<\/p>\n

During June this year, Sperrgebiet Diamond Mining (Pty) confirmed a majority equity investment by Global Emerging Markets Group (GEM). Among other investments, the resources division of the GEM Group holds mining and energy assets in Zimbabwe and has previously expressed a desire to expand its footprint in southern Africa and the rest of Africa in the longer-term.<\/p>\n

GEM\u2019s current African investments include a majority shareholding in<\/p>\n

RioZim. The company also owns a base metal refinery and an energy business unit focused on generating green energy and minimising the carbon<\/p>\n

footprint of its mining<\/p>\n

operations.<\/p>\n

SDM actually acquired its mining assets from Namdeb Diamond Corporation in October 2020 and invested in the project through an environmental clean-up campaign and the care and maintenance of the existing main processing plant with the aim to recommission it. At the time, an additional capital investment was solicited by shareholders, culminating into a share sale transaction between the Namibian shareholders and its minority partners.<\/p>\n

\u201cThe equity transaction was well received by the government of Namibia and received approval from the Namibian Competition Commission and the minister of mines and energy. The deal was finalised on May 20, 2022, with GEM group subsidiary obtaining 78% of the shareholding and Namibian<\/p>\n

shareholders retaining 22% inclusive of an Employees Trust of 2%,\u201d read a statement from SDM.<\/p>\n

Meanwhile, the company was gearing up to start operations at the historic production levels under Namdeb during the fourth quarter of 2022.<\/p>\n

\u201cThe immediate next aim is to double production by mid-2023 by implementing an infield pre-treatment facility as the second phase. The company is amidst an aggressive recruitment drive, aiming to employ up to 180 people by the end of 2022, with a further increase during phase two,\u201d SDM stated. All efforts to get comment from SDM were unanswered at the time of going to print.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. RioZim, the company that separated from Rio Tinto plc in 2004 to become a wholly owned Zimbabwean company, has reportedly purchased the Sperrgebiet Diamond Mine (SDM) which holds a combination of four onshore and offshore diamond mining licences in the restricted diamond areas around Lu\u0308deritz. SDM\u2019s mainland-based operation is situated at Elizabeth […]<\/p>\n","protected":false},"author":84,"featured_media":31223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-31224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nRioZim buys L\u00fcderitz diamond mine - Namibia<\/title>\n<meta name=\"description\" content=\"RioZim, the company that separated from Rio Tinto plc in 2004 to become a wholly owned Zimbabwean company, has reportedl ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RioZim buys L\u00fcderitz diamond mine\" \/>\n<meta property=\"og:description\" content=\"RioZim, the company that separated from Rio Tinto plc in 2004 to become a wholly owned Zimbabwean company, has reportedl ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-12T13:25:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-12T13:37:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/10\/postQueueImg_3-6346c2fcc69d2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"RioZim buys L\u00fcderitz diamond mine\",\"datePublished\":\"2022-10-12T13:25:21+00:00\",\"dateModified\":\"2022-10-12T13:37:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine\"},\"wordCount\":568,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/10\/postQueueImg_3-6346c2fcc69d2.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/riozim-buys-luderitz-diamond-mine\",\"name\":\"RioZim buys L\u00fcderitz diamond mine - 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