Zimbabwe’s RioZim coal unit loses operating license after appeal
Bloomberg RioZim Ltd., a former unit of Rio Tinto Group, lost its operating license in Zimbabwe after the miner failed to develop a 2,800 megawatt coal-fired power plant. The government cancelled the license for the Sengwa coal mine under its “use-it-or-lose-it” policy after a failed appeal, Secretary of Mines Pfungwa Kunaka wrote in a letter […] The post Zimbabwe’s RioZim coal unit loses operating license after appeal appeared first on NewZimbabwe.com.
Black News 
Bloomberg
RioZim Ltd., a former unit of Rio Tinto Group, lost its operating license in Zimbabwe after the miner failed to develop a 2,800 megawatt coal-fired power plant.
The government cancelled the license for the Sengwa coal mine under its “use-it-or-lose-it” policy after a failed appeal, Secretary of Mines Pfungwa Kunaka wrote in a letter to the company seen by Bloomberg and confirmed by the ministry.
RioZim’s Wilson Gwatiringa, a director, confirmed the cancellation and declined to comment further, saying the dispute had gone to court.
The northern Zimbabwe mine had planned to develop a $3 billion coal-powered thermal power plant but the project failed to take off after Industrial and Commercial Bank of China Ltd. pulled out of the deal in 2021.
The post Zimbabwe’s RioZim coal unit loses operating license after appeal appeared first on NewZimbabwe.com.
