Zim Government Urged to Register Consolidated Diamond Company on ZSE

(IDEX Online News) – The Kimberley Process Civil Society Coalition in Zimbabwe coordinator, Shamiso Mtisi, has called on the Zimbabwe government to consider floating the soon-to-be consolidated mining company on the Zimbabwe Stock Exchange (ZSE), according to a report in NewsDay.

The Zimbabwean government had planned to complete the consolidation process of diamond mines operating in the country’s Marange area into one entity by March, which would provide it with a 50-percent equity stake in the new company.

Mtisi argued that floating on the stock exchange would attract investment from local, regional and international mining companies.

“The merged or consolidated diamond mining companies should work towards registering on the Zimbabwe Stock Exchange. This will be an important step for diamond mining companies to promote transparency, accountability and good corporate governance,” he said.

Floating on the ZSE would require the companies company to publish its results, meaning that they will become public outfits, in which Zimbabweans and others can invest.