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Zimbabwe’s RioZim Buys Namibian Diamond Mine to Expand in Africa

  • RioZim paid $58 million for Sperrgebiet mine: people familiar
  • Miner plans further investments in Zimbabwe metals business

RioZim Ltd. has bought Sperrgebiet Diamond Mine in Namibia as the Zimbabwean group seeks to expand in Africa.

“The group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part of the strategy,” Tawanda Andrew Chiurayi, RioZim’s group company secretary, said in a written response to questions from Bloomberg News. “We also want to diversify our assets and geographies.”