News / National
China's alluvial diamond mining interests posing a challenge for Zim govt
21 Nov 2011 at 06:50hrs | Views
China's interest in Zimbabwe's alluvial diamond mining is posing a challenge to Harare.
Zimbabwe last year said it would take over all alluvial diamond activities in the country.
Savior Kasukuwere, the Minister of Youth Development, Indigenisation and Empowerment, said alluvial diamonds were the preserve of the state and "must benefit the people of Zimbabwe".
Cabinet resolved that the government would take over all alluvial mining in the Marange fields, where it is involved in two joint ventures with two South African firms. But Chinese investors are also present in the area.
Alluvial mining is the cheapest form of diamond mining, but Zimbabwe this week secured deals worth more than $700 million with Chinese investors interested in the industry.
Prince Mupazviriho, the permanent secretary of mines and mining development, met the potential investors last week on a trip to China.
"We signed transactions estimated at between $700 million and $750 million with investors eager to do mineral extraction and beneficiation," he told journalists.
The Chinese were quick to point out that they were interested in alluvial diamond mining, as a result of the decision by the Kimberley Process and Certification Scheme to allow Zimbabwe to sell its diamonds, Mupazviriho said.
Zimbabwe last year said it would take over all alluvial diamond activities in the country.
Savior Kasukuwere, the Minister of Youth Development, Indigenisation and Empowerment, said alluvial diamonds were the preserve of the state and "must benefit the people of Zimbabwe".
Cabinet resolved that the government would take over all alluvial mining in the Marange fields, where it is involved in two joint ventures with two South African firms. But Chinese investors are also present in the area.
Alluvial mining is the cheapest form of diamond mining, but Zimbabwe this week secured deals worth more than $700 million with Chinese investors interested in the industry.
Prince Mupazviriho, the permanent secretary of mines and mining development, met the potential investors last week on a trip to China.
"We signed transactions estimated at between $700 million and $750 million with investors eager to do mineral extraction and beneficiation," he told journalists.
The Chinese were quick to point out that they were interested in alluvial diamond mining, as a result of the decision by the Kimberley Process and Certification Scheme to allow Zimbabwe to sell its diamonds, Mupazviriho said.
Source - Sunday Times
