Harpal Randhawa Net Worth 2023: Here’s How Much Wealth Did Indian Mining Billionaire Have?

Harpal Randhawa was a billionaire who belonged to the Jat community and lost his life in a tragic plane crash near a diamond mine in Zimbabwe. He was the owner of GEM. Holdings and RioZim. Under his tutelage his brainchild RioZim flowered and proliferated into a diversified mining conglomerate, excelling in the extraction of gold, coal, nickel, and copper.

He was a shining star in the world of mining and his unconquerable spirit and steadfast willpower propelled him to great heights of success, earning him the moniker of India’s mining tycoon.

He had an impressive personality with a height of 5 feet 8 inches and weighing around 68 kilograms. He was a man of robust physique well into his fifties exhibited an aura of invincibility and had a wealth of a staggering $5-8 billion.

He was a devout Hindu and had a deep attachment with Bollywood and Aamir Khan and Deepika Padukone ranking among his favorite actors and actresses, respectively. he loved Indian cuisine and New York was his favorite city

His untimely death had left his near and dear ones as well as the employees of his conglomerate in a state of shock. He had endeared himself to his critics and protagonist in equal measure and his sudden demise has left a void in the world of mining and entrepreneurship. His legacy remains etched in the annals of India’s industrial history.

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Harpal Randhawa and his 22-year-old son were killed in an Airplane crash

Harpal Randhawa and his son Amer Kabir Singh Randhawa were traveling in a private plane that crashed near a diamond mine in southwestern Zimbabwe due to a technical glitch. Zimbabwe-based Indian billionaire businessman Harpal Randhawa his son Amer Kabir Singh Randhawa and six other occupants of the plane lost their lives.

The details of the tragic plane crash were reported by ‘iHarare which said that six people including Harpal Randhawa and his son Amer Kabir Singh Randhawa died in the plane crash in the Zvishavane area. RioZim is a big mining conglomerate and has an interest in mining as well as refining different metals which include gold, coal, nickel, and copper.

The plane was flying in the southwestern Zimbabwe region when the plane experienced a technical glitch and crashed. The police are yet to disclose the identities of all the deceased, Harpal and his son Amer Randhawa are among the six who lost their lives.

The plane which was a Cessna 206 aircraft owned by ‘Riozim’ was on a routine flight from Murowa diamond mine on Friday, September 29, 2023, when the tragic accident occurred. The crash happened near the Murowa diamond mine, which is co-owned by Riozim.

RioZim Owner Harpal Randhawa

Incorporated on August 29, 1956, RioZim, the conglomerate which was headed by Harpal Randhawa, was originally known as Rio Tinto Southern Rhodesia Ltd. It was set up to extract nickel from the Midlands mines and also happened to be the first mining operation to be set up outside Europe by Rio Tinto plc.

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RioZim separated from Rio Tinto plc in 2004 and became the fully owned Zimbabwean company with interests in gold, coal, toll refines nickel, and copper. RioZim has been listed on the Zimbabwe Stock Exchange (ZSE). Ever since its separation from Rio Tinto plc, it experienced rapid growth and it is to the credit of Harpal Randhawa who with his astute and sharp business insight launched a new vision, mission, and value statements. Its operation has been touted to be a company with high standards in occupational health, safety, and environmental management.

RioZim operates with five distinct business units-

  • RioGold
  • RioBase Metals
  • RioChrome
  • RioDiamonds
  • RioEnergy.

RioZim operates the following mines in Zimbabwe-

  • Renco Gold mine in the southeast of Zimbabwe
  • Cam & Motor gold mine in Kadoma
  • Dalny Mine in Chakari
  • Empress Nickel Refinery near the city of Kadoma in Central Zimbabwe

Additionally, RioZim also owns 50% of Sengwa Colliery Pty Ltd in Gokwe North and also controls a 22% interest in Murowa Diamonds Pvt Ltd and has been diversifying into the chrome mining and smelting industry.

How Much Was Harpal Randhawa’s Net Worth?

As per sources, Harpal Singh Randhawa who was the founder of GEM Holdings had a net worth of $4 Billion. He owns sizable interests in coal, diamonds, and gold. Harpal Singh Randhawa had created the GEM group in July 1993.