State-owned Zimbabwe Consolidated Diamond Company (ZCDC) has produced two million carats of diamonds from January to date, reflecting a 47 percent increase from 1.3 million carats during the same period last year.
Increased investments in the mining sector and processing capacity by the ZCDC have lead to the rise in production of the precious commodity.
ZCDC Chief Executive Officer Dr Morris Mpofu told the news today that increased exploration and fresh green field projects are therefore expected to result in overall diamond production reaching the targetted three million carats by year end.
“We are really convinced of the efforts that we are doing to unlock value in the commodity such that we are also on course to achieve the desired results on the back of our strategic planning,” said Dr Mpofu.
The state-owned diamond mining firm is mainly extracting conglomerate diamonds in Chiadzwa in eastern Zimbabwe while exploration for kimberlite diamonds has also started.
The government is also formulating a new diamond policy to attract fresh capital and investment as well as ensuring communities around the diamond fields’ benefit from the resource by imposing a legal requirement for meaningful corporate social responsibility programmes.
Source – ZBC