ZMDC concludes six gold and diamond mining agreements

The Zimbabwe Mining Development Corporation, (ZMDC) says it has this year concluded six gold and diamond mining agreements estimated at $200 million which are expected to enhance productivity.

The mining entity whose mandate is to invest in the mining industry, coordinate and implement mining development projects on behalf of the government is optimistic the six joint venture mining agreements entered into with various investors will boost the viability of the parastatal.

In a side-line interview at the recently held dinner to mark the end of year, ZMDC General Manager Engineer Jerry Ndlovu said the investments as well as the ongoing resource development programme will boost the parastatals production levels.

ZMDC General Manager also confirmed that apart from the six joint venture agreements, the corporation has this year singed 18 non-disclosure agreements for exploration and development in gold, diamonds, tanzanite and copper.

Guest of honour at the occasion, Mines and Mining Development Permanent Secretary Prince Mupazviriho paid tribute to the parastatal for its achievements and contribution towards the growth of the mining sector.
ZMDC boasts of 16 mines under its portfolio.

Of the 16, four are wholly-owned by ZMDC and the other 12 are joint venture companies.