Zimbabwe’s RioZim Coal Unit loses Operating License After Appeal

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.