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Zimbabwe govt seeks to empower communities in diamond mining areas

by Staff Reporter
19 Oct 2019 at 19:03hrs | Views
Government is moving in to empower communities in diamond mining areas, with a shareholding structure for the Chiadzwa community trading under the name  Katanga  Mining and state-owned Zimbabwe Consolidated Diamond Company ( ZCDC) set to be finalised.

The Chiadzwa community has partnered with a United Kingdom listed firm, Vast Resources, to form a company called Katanga Mining Limited,  paving way for a joint venture deal with the Zimbabwe Consolidated Diamond Company (ZCDC) in the mining of the commodity.

ZCDC Chairperson, Engineer Kilian Ukama, confirmed the development saying while the joint venture deal will be concluded next month, modalities on the shareholding structures are being finalised.

"We shall be doing our best to ensure that the deal is finalised. remember there were some issues that were  really of greater concern but we believe the signing of the agreement next month will put everything into the right direction," Ukama said.

The joint venture deal is also expected to increase the value of diamond mineral earnings.

Zimbabwe is stepping up efforts to exploit mineral resources for the benefit of the economy.

Source - zbc