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HARARE, Zimbabwe Consolidated Diamond Company (ZCDC), which has a monopoly on diamond mining in Zimbabwe, has started exploring for new diamond deposits in Chimanimani and Penhalonga in Manicaland province.

Thee company, which was created last year following the merger of diamond companies which were operating in Chiadzwa, is the sole miner of the gems in Zimbabwe. The government holds a stake of 50 per cent in the company, while private firms share the remaining 50 per cent.

Zimbabwe extracts alluvial diamonds mainly from the vast Marange fields in Chiadzwa, but these are fast depleting, prompting the need to explore for more deposits.

"The Zimbabwe Consolidated Diamond Company intends to carry out diamond exploration in Mutambara and Martin Forest Land, Chimanimani District in Manicaland province," reads a notice for an Environmental Impact Assessment for the intended exploration.

"As such, Zimbabwe Consolidated Diamond Company has contracted the Scientific Industrial Research and Development Centre to conduct an Environmental Impact Assessment study for the diamond exploration project."

Zimbabwe had pinned hopes for enhanced economic revival and growth on diamonds, since their discovery in Chidzwa over a decade ago. But with more than five joint venture companies, between the government and private players, having been licensed to mine the gems, the economy has not benefited from the mining activities.

Instead, there is a general feeling that the economy lost out due to unscrupulous activities by the diamond miners that saw them siphoning out revenues for their personal gain, with President Robert Mugabe having said that the economy could have lost as much as 15 billion US dollars through leakages in the sector.

While investigations are still underway to ascertain what transpired, the government has taken over the mining activities to promote accountability in the sector. Last year, diamond production in Chiadzwa declined from 3.2 million carats mined in 2015 to slightly below one million carats.

Source: NAM NEWS NETWORK

HARARE, Zimbabwe Consolidated Diamond Company (ZCDC), which has a monopoly on diamond mining in Zimbabwe, has started exploring for new diamond deposits in Chimanimani and Penhalonga in Manicaland province.

Thee company, which was created last year following the merger of diamond companies which were operating in Chiadzwa, is the sole miner of the gems in Zimbabwe. The government holds a stake of 50 per cent in the company, while private firms share the remaining 50 per cent.

Zimbabwe extracts alluvial diamonds mainly from the vast Marange fields in Chiadzwa, but these are fast depleting, prompting the need to explore for more deposits.

"The Zimbabwe Consolidated Diamond Company intends to carry out diamond exploration in Mutambara and Martin Forest Land, Chimanimani District in Manicaland province," reads a notice for an Environmental Impact Assessment for the intended exploration.

"As such, Zimbabwe Consolidated Diamond Company has contracted the Scientific Industrial Research and Development Centre to conduct an Environmental Impact Assessment study for the diamond exploration project."

Zimbabwe had pinned hopes for enhanced economic revival and growth on diamonds, since their discovery in Chidzwa over a decade ago. But with more than five joint venture companies, between the government and private players, having been licensed to mine the gems, the economy has not benefited from the mining activities.

Instead, there is a general feeling that the economy lost out due to unscrupulous activities by the diamond miners that saw them siphoning out revenues for their personal gain, with President Robert Mugabe having said that the economy could have lost as much as 15 billion US dollars through leakages in the sector.

While investigations are still underway to ascertain what transpired, the government has taken over the mining activities to promote accountability in the sector. Last year, diamond production in Chiadzwa declined from 3.2 million carats mined in 2015 to slightly below one million carats.

Source: NAM NEWS NETWORK

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