Zimbabwe Govt Approves Two New Companies To Mine Diamonds

(IDEX Online) – Zimbabwe is to allow two additional private firms to explore and mine for diamonds, according to Mines Minister Winston Chitando. He did not name the new companies.

There are currently two firms operating in the sector.  

Chitando said the government's new diamond policy would allow for two more private companies to explore and mine diamonds, and that a total of four firms would enable the effective coverage of the diamond resources.

Zimbabwe's main diamond deposits are in the Marange area in the east of the country which is dominated by the state-owned Zimbabwe Consolidated Diamond Company (ZCDC). The ZCDC predicts output of 3.5 million carats this year compared with 2.5 million carats in 2017.