RioZim Enters Final Negotiations to Offload Assets

Audrey Galawu- Assistant Editor

RioZim Limited has issued a cautionary announcement revealing that it is in the final stages of negotiations that could see the disposal of some of its mining and non-core assets, a move expected to significantly impact its balance sheet.

In a press release issued today, the company advised shareholders and the investing public that the transactions under discussion are set to resolve ongoing financial and operational challenges.

The board said the conclusion of the negotiations is “imminent,” with an outcome likely to reshape the company’s strategic direction.

These developments come as RioZim continues to navigate a turbulent corporate environment, including a Corporate Rescue Application. The company confirmed that all legal paperwork for the rescue process has been filed, and a court date is pending.

Meanwhile, negotiations between the company’s major shareholders and prospective investors seeking to acquire a controlling stake in RioZim are said to be progressing, with due diligence reportedly at an advanced stage.

“Shareholders and the investing public are advised to exercise caution when dealing with the Company’s securities,” the statement read. The company pledged to issue further updates in line with regulatory requirements as more material developments unfold.

RioZim, one of Zimbabwe’s major mining players, has faced growing pressure over the past few years amid fluctuating commodity prices, currency instability, and operational inefficiencies.

The impending asset sales may mark a critical turning point for the firm’s future viability.