African Financial Markets Homepage v advertisement v
04-Sep-2010
Members Area >>>
User Name: Password: [Register] [ Forgotten Password]
Macro-economy & Politics
Click here for share price, fundamental analysis, financial statement, news, graphs, corporate action on any company.
Macro-economy & Politics
Click here for stock market indices, news, market profile, economic statistics, exchange rate on any country.
Pan African equity Analysis
Click here for Ranking and Analysis of equities on a Pan-African basis. Pan-African Equity Indices Stock Selection Tool
Currency Exchange Rate
Click here for currency exchange rates.
African Renaissance Fund
Click here for details of collective investment fund open to retail and institutional investors.

News

Zimbabwe Murowa can boost output six times: Rio Tinto
6th February 2010
 

GLOBAL mining group, Rio Tinto says there is scope for a six-fold increase in production at its Murowa diamond mine which is currently producing about 263 000 carats a year.Speaking at a mining conference in South Africa, Rio Tinto diamonds and minerals Chief Executive, Harry Kenyon-Slaney who was due to visit Zimbabwe during the week said the company was positive about Murowa’s prospects and would continue to support the operation.Rio Tinto has a 78 percent interest in the Mine which is located in the Midlands town of Zvishavane with locals controlling the other 22 percent through Rio Zim which is listed on the Zimbabwe Stock Exchange (ZSE).The Rio Tinto boss said the resource at Murowa provided capacity to increase production by up to seven times."It's a diamond operation that we discovered and one that has good quality diamonds," he said.

The Rio boss also commended the progress made by the country’s coalition government in improving the operating environment for investors."We are encouraged by the progress made by the inclusive government over the last year and the improvement in the socioeconomic environment of the country," Kenyon-Slaney said.The group is expanding operations at the mine in an exercise expected to cost about US$200 million.Diamond resources at Murowa were discovered in 1997 and the mine, which now employs 325 people, was commissioned in 2004.
 

 
Source: New Zimbabwe.com
View Company Profile
Rio Tinto Zimbabwe Limited
  <-Back

Terms of use | Privacy policy | Contact us

© African Business Research Limited 2003
Site designed by Antersite Limited