WELCOME
TO OUR 2021
ANNUAL REPORT
About This Report
RioZim Limited, a company listed on the Zimbabwe Stock Exchange (ZSE) since 1971, is pleased to present its annual report for the year ended 31 December 2021.
REPORTING SCOPE
The report contains information about the operations and exploration projects of RioZim Limited ("the Company") and its subsidiaries (together "the Group") in Zimbabwe. Any references in this report to ''our'', ''we'', ''us'', ''the Group'', "Company," "and RioZim" refers to RioZim Limited.
REPORTING FRAMEWORKS
This report was compiled with due consideration of the following regulatory requirements and reporting standards:
- Companies and Other Business Entities Act [Chapter 24:31];
- Zimbabwe Stock Exchange (ZSE) Listing Requirements; and
- International Financial Reporting Standards (IFRS).
DATA AND ASSURANCE
The financial statements were audited by Ernst & Young Chartered Accountants (Zimbabwe), in accordance with the International Auditing Standards (ISAs). The independent auditor's report is contained on pages 42 to 46.
REINSTATEMENTS
The Group did not make any reinstatements of data previously published.
CURRENCY
All references to $ refer to ZW$ throughout this report.
FORWARD LOOKING STATEMENT
This report may contain forward-looking statements which relate to the future performance and prospects of the Group. While these statements represent our judgements and future expectations, several known and unknown risks, uncertainties and other important factors may cause actual results to differ materially from our expectations. These include factors that could adversely affect our business and performance. Stakeholders are cautioned not to place undue reliance on any forward-looking statements contained herein. We do not undertake to update publicly or to release any revisions to these forward-looking statements, to reflect events or circumstances after the date of the publication of this report or to reflect the occurrence of unanticipated events.
FEEDBACK
We welcome your feedback on our annual report. If you have any suggestions on how we can improve our reporting or clarifications that you may need on any information provided in this report, please send your comments to Mr T Chiurayi, the Company Secretary on
Tawanda.Chiurayi@riozim.co.zw.
RIOZIM LIMITED | |
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ANNUAL REPORT 2021 |
RIOZIM LIMITED
ANNUAL REPORT 2021
Contents of This Report
01 | PERFORMANCE & OPERATIONAL | ||||
ABOUT RIOZIM | 02 REVIEWS | ||||
Our Operations at a Glance | 04 | Chairman's Statement | 12 | ||
Board of Directors | 06 | Group CEO's Review | 18 | ||
Management Structure | 08 | Health, Safety & Environment | 27 | ||
Labour Practices | 29 | ||||
03 CORPORATE GOVERNANCE
Report of the Directors | 32 |
Directors' Responsibility for | 35 |
Financial Reporting | |
Corporate Governance Statement | 37 |
Direct and Indirect Shareholding | 40 |
of Directors |
The RioZim Annual Report is available on the following websites:
- www.riozim.co.zw
Members may also obtain a copy of the
Annual Report from the office of the
Transfer Secretaries.
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01 ABOUT RIOZIM | PERFORMANCE & | 03 | CORPORATE | 04 | FINANCIAL | 05 | OTHER | ||
02 OPERATIONAL REVIEWS | GOVERNANCE | STATEMENTS | INFORMATION | ||||||
Contents of This Report
04 FINANCIAL STATEMENTS | 05 OTHER INFORMATION | |||
External Auditor's Report | 42 | Top 20 Shareholders | 100 | |
Statement of Profit or Loss | 47 | Notice of the Annual General Meeting | 101 | |
Statement of Other Comprehensive Income | 48 | Form of Proxy | 102 | |
Statement of Financial Position | 49 | |||
Statement of Changes in Equity | 50 | |||
Statement of Cash Flows | 51 | |||
Notes to the Financial Statements | 52 | |||
RIOZIM LIMITED | |
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ANNUAL REPORT 2021 |
RIOZIM LIMITED
ANNUAL REPORT 2021
Our Operations at a Glance
COMPANY OPERATIONS
In the year under review, the Group operated Renco Mine located in Masvingo, Dalny Mine based in Chakari, Cam & Motor Mine, One-Step Mine and Empress Nickel Refinery located in Kadoma. In addition, the Group holds a 50% interest in Sengwa Colliery (Private) Limited, a company with coal assets located in Gokwe North and a 22.2% interest in RZM Murowa (Private) Limited, a company with a diamond operation located in Zvishavane. The location of these operations as well as the Group's areas of interest are shown below:
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01 ABOUT RIOZIM
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Disclaimer
RioZim Ltd. published this content on 07 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 December 2022 07:41:02 UTC.