Zimbabwe diamonds firm winds up operations

The government has authorized Marange Resources to merge with other diamond producers in the country as it moves to form one miner for the precious mineral.

There are plans to consolidate all the diamond producers to form the Zimbabwe Consolidation Diamond Corporation (ZCDC).

The government, through its mining company the Zimbabwe Mining Development Corporation, (ZMDC), wholly owns Marange Resources Pvt Ltd.

Marange Resources chief executive officer Mark Mabhudhu yesterday told journalists that government had authorized Marange Resources to join the new consolidated entity.