Zimbabwe to start conglomerate diamond mining
THE Zimbabwe Consolidated Diamond Company (ZCDC) will this week receive $30 million worth of mining equipment from Belarus paving way for the start of conglomerate diamond mining at Chiadzwa.
Since diamonds were discovered in the area companies that were given concessions to mine were doing alluvial mining resulting in the depletion of the mineral and those companies had no equipment to do kimberlite mining.
Speaking after officially launching the $50 million funding for smallscale miners at the Zimbabwe International Trade Fair Exhibition Centre on Thursday, Mines and Mining Development Minister Walter Chidhakwa said he was satisfied with the progress at ZCDC and components of its strategic plans aimed at improving production at its Marange and Chiadzwa fields in Manicaland Province.
“You are aware that we are expecting equipment to come in from Belarus and that earth moving equipment is going to be in the country first week of May,” said Minister Chidhakwa.
The equipment was acquired under a local facility arranged by the Reserve Bank of Zimbabwe (RBZ) and is earmarked for upgrading and re-designing mining operations.
It is part of several loans Zimbabwe is getting from Belarus to support productive sectors.
Minister Chidhakwa said ZCDC has also managed to raise $80 million following the presentation of its strategic plan to the Minister of Finance and Economic Development Patrick Chinamasa and the RBZ Governor Dr John Mangudya, which would go towards acquiring more equipment and exploration activities.
“They (ZCDC) made presentations to the Minister of Finance (and Economic Development Chinamasa) and RBZ Governor Dr Mangudya). I am happy to report that because of that interaction ZCDC was able to put together a resource of $80 million. The $80 million is going to be extended over a period of four to five months on primarily recapitalisation in terms of getting equipment that they need,” he said.
Minister Chidhakwa further said the earth moving equipment would be supported by processing of conglomerate diamonds. Before the consolidation of the industry, companies were mostly doing alluvial mining.
Conglomerate diamonds are located deeper than the alluvial ones but have more value compared to the alluvial diamonds and need highly technological equipment to extract. Conglomerate diamonds are a rock consisting of