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The curse of diamonds: How Zimbabwe's wealth is failing its people
I was listening this morning as the Minister of Mines, Winston Chitando, boasted over Zimbabwe's increasing diamond production. Indeed, Zimbabwe's diamond industry has long been touted as a be...Published: 01 Oct 2024 at 15:09hrs | 940 | by Tendai Ruben Mbofana
Zimbabwe holds 7th rank in global rough diamond production
Zimbabwe has maintained its seventh position in global rough diamond production according to the Kimberley Process Certification Scheme. Despite facing sanctions and strict trading rules in major US a...Published: 10 Jul 2024 at 15:42hrs | 12 | by Staff reporter
Reserve Bank of Zimbabwe appoints tainted Mpofu
TRUST, confidence and credibility of the Reserve Bank of Zimbabwe (RBZ) has been put at stake after the new central bank governor John Mushayavanhu appointed tainted banker Morris Bekezela Mpofu as hi...Published: 19 May 2024 at 11:54hrs | 14 | by Staff reporter
400 delegates jet into Zimbabwe for diamond Indaba
Approximately 400 delegates hailing from 59 countries, including Zimbabwe, are set to gather in Victoria Falls next week for the Kimberley Process Certification Scheme (KPCS) summit. The focus of thes...Published: 03 Nov 2023 at 05:35hrs | 10 | by Staff reporter
Bad leadership behind Zimbabwe's impoverishment
FORMER Finance minister in the Government of National Unity (GNU) Tendai Biti has blamed poor political leadership and a shambolic mineral resource governance strategy for the stagnation in Zimbabwe's...Published: 23 Oct 2023 at 10:50hrs | 2 | by Staff reporter
Zimbabwe's biggest diamond miner shifts sales to Dubai auctions
ZIMBABWE'S biggest diamond producer has shifted almost all of its sales to Dubai, targeting cutters, polishers and traders and eliminating middlemen.Zimbabwe Consolidated Diamond Co. has aucti...Published: 22 Oct 2023 at 09:19hrs | | by Staff reporter
'Zimbabwe central bank selling gold coins at a loss'
THE Reserve Bank of Zimbabwe (RBZ) is making a huge loss by selling gold coins in local currency using the official rate as the Zimbabwean dollar continues on a free fall, a local think tank has said....Published: 27 Apr 2023 at 06:32hrs | | by Staff reporter
Vic Falls double header for Mnangagwa
PRESIDENT Mnangagwa will be in Victoria Falls today to lead key proceedings of two separate high-level international economic conferences as the Second Republic intensifies its efforts to accelerate d...Published: 23 Mar 2023 at 06:15hrs | 4 | by Simbarashe Sithole
Zimbabwe to scale up diamond cutting, polishing industry
MINES and Mining Development Minister Winston Chitando has said the country is targeting seven million carats this year as the country plans to scale up the diamond cutting and polishing industry....Published: 09 Mar 2023 at 05:21hrs | 4 | by Staff reporter
Open Letter: Mine loses millions worthy of diamonds as workers engage in illicit diamond panning
Dear, Some "lucky" Murowa Diamonds Mine workers have become rich overnight after a well-orchestrated and carefully executed diamond stealing process went on undetected for months leaving some ...Published: 26 Feb 2023 at 11:04hrs | 10 | by Concerned Murowa Resident
Court releases Vast Resources' diamonds
VAST Resources (Vast) says the High Court of Zimbabwe has ordered the release of its 129 400 carats of rough diamonds, which have been in the custody of the Reserve Bank of Zimbabwe (RBZ) since 2010....Published: 12 Feb 2023 at 07:20hrs | 8 | by Staff reporter
UK-based Vast Resources commends Mnangagwa govt
LONDON based mining and resource development company, Vast Resources has hailed President Emmerson Mnangagwa's administration for commitment in resolving legacy issues at a time when the miner' share ...Published: 06 Feb 2023 at 04:57hrs | 2 | by Staff reporter
RBZ in gems mop up deal
THE government has structured a deal that will see the Reserve Bank of Zimbabwe (RBZ) buying excess diamonds as it moves to shut out unscrupulous dealers that have been dribbling authorities....Published: 02 Dec 2022 at 19:30hrs | | by Staff rteporter
Zimbabwe confident of producing 6m carats next year
Zimbabwe is confident it will produce six million carats and generate US$1 billion from the diamond industry next year in line with set targets, Mines and Mining Development Minister Winston Chitando ...Published: 23 Oct 2022 at 09:07hrs | 2 | by Staff reporter
Zimbabwe to release another batch of gold coins
The Reserve Bank of Zimbabwe (RBZ) today said it will release an additional 2 000 gold coins this week, after the initial batch was highly subscribed.The Mosi-Oa-Tunya coins, which came into t...Published: 02 Aug 2022 at 06:44hrs | 14 | by Staff reporter
Zimbabwe gold coin out today
The Reserve Bank of Zimbabwe (RBZ) will release the Mosi-oa-Tunya gold coins onto the market today and they will be sold in local currency, US$ and other foreign currencies.Their price is base...Published: 25 Jul 2022 at 06:27hrs | | by Staff reporter
Zimbabwe gold coins to be held for at least 180 days
Individuals and institutional buyers of Reserve Bank of Zimbabwe (RBZ's) gold coins will be required to hold them for at least 180 days before selling while exporters earning less than a million US do...Published: 20 Jul 2022 at 06:34hrs | 12 | by Staff reporter
RBZ dismisses gold coin rumours
The Reserve Bank of Zimbabwe on Thursday dismissed as "fake news", social media content alleging that gold coins were already available ahead of their official release date.The central bank an...Published: 07 Jul 2022 at 20:13hrs | 2 | by Staff reporter
Cost of Zimbabwe gold coins to be based on international prices
THE Reserve Bank of Zimbabwe (RBZ) is set to commence the trading of gold coins this month in a bid to introduce an alternative store of value in the market amid optimism that the coins will impact th...Published: 05 Jul 2022 at 21:06hrs | | by Staff reporter
Date set for Zimbabwe gold coins rollout
GOLD coins that were announced last week as a new measure and alternative to store monetary value, will be introduced into the market mid-this month and will be purchased using both foreign and local ...Published: 03 Jul 2022 at 09:28hrs | 6 | by Staff reporter
US$20m externalised in Zimbabwe diamond sales
MORE than US$20 million was illegally moved out of the country's borders in murky deals involving blacklisted diamond dealer Jamal Ahmed in an opaque sale of one million carats of diamonds from the Mi...Published: 03 Jun 2022 at 19:14hrs | | by Staff reporter
Zimbabwe's diamond sector to surpass US$1bn target
Zimbabwe's diamond sector is on course to exceed the targeted US$1 billion contribution backed by exceptional performance by mining companies such as the Zimbabwe Consolidated Diamond Company (ZMDC)....Published: 08 Apr 2022 at 06:41hrs | 1 | by Staff reporter
Mnangagwa's 'second Republic' as scandal-prone as Mugabe's govt
THERE is no difference between the administration of former president Robert Mugabe and that of his successor Emmerson Mnangagwa when it comes to public procurement as the two republics are marred by ...Published: 22 Feb 2022 at 07:23hrs | | by Staff reporter
Mnangagwa administration elbows out British investor under a cloud
The Zimbabwean government has - under unclear circumstances - frozen a multi-million diamond deal involving a London-listed British company, Vast Resources Plc, as the post-coup administration increas...Published: 19 Dec 2021 at 07:09hrs | 7 | by Staff reporter
Police arrest 1 306 over precious minerals
POLICE this year arrested about 1 306 people for illegally dealing in precious minerals and elephant tusks, recovering millions of dollars' worth of contraband, a senior officer said on Saturday....Published: 14 Dec 2021 at 05:45hrs | 7 | by Staff reporter
Zimbabwe happy to assume World Kimberley Process post
Zimbabwe says it is greatly honoured to have been elected vice chair for the World Kimberley Process for 2022, at a time when local diamond production is scaling new records.The election was d...Published: 22 Nov 2021 at 05:51hrs | 7 | by Staff reporter
5 arrested with 12 diamonds after tip-off
FIVE people have been arrested in Mutare after they were found in possession of 12 diamonds weighing 75 carats.The value of the diamonds is yet to be ascertained as investigations continue....Published: 06 Oct 2021 at 05:44hrs | 7 | by Staff reporter
Zanu-PF's corrupt election funding exposed
THE ruling Zanu-PF mortgaged the country's natural resources in lieu of US$100 million in financial support ahead of the country's 2013 general elections, a new report by a local watchdog has shown....Published: 31 Jul 2021 at 17:54hrs | 17 | by Staff reporter
Zanu-PF sets US$140 million budget for Mnangagwa re-election in 2023
Zanu-PF has set a target of raising US$140 million for the 2023 election campaign, just days after a new report accused the party of "mortgaging" the country's minerals to finance its past campaigns....Published: 28 Jul 2021 at 09:15hrs | 1 | by Staff reporter
Diamonds worth US$140m vanish
ROUGH diamonds worth an estimated US$140 million dollars have disappeared from the supposedly impenetrable Minerals Marketing Corporation of Zimbabwe (MMCZ) and Zimbabwe Consolidated Diamond Company (...Published: 14 Jul 2021 at 09:22hrs | | by Staff reporter
State diamond company fails to account for US$400m
THE Zimbabwe Consolidated Diamond Company (ZCDC) has failed to account for the use of money exceeding US$400 million, while also failing to properly account for 352 583.11 carats of diamonds wor...Published: 19 Jun 2021 at 15:06hrs | | by Staff reporter
Zimbabwe's biggest diamond miner sees output rising 30% in 2021
THE biggest diamond miner in Zimbabwe said it will be able to increase production of rough gems by about 30% to 3 million carats this year thanks to improved mining methods.Zimbabwe Consolidat...Published: 06 Jun 2021 at 18:15hrs | | by Staff reporter
Murowa running out of diamonds
OUTPUT at RioZim's gem extraction associate Murowa Diamonds slipped to 579 000 carats during the year ended December 31, 2020 after Zimbabwe's oldest operating diamond mining asset depleted high-grade...Published: 12 Apr 2021 at 07:21hrs | | by Staff reporter
ZCDC faces collapse
THE future of the state-owned diamond miner, Zimbabwe Consolidated Dia-mond Company (ZCDC), looks bleak, owing to loss of concessions and govern-ment interference, among other factors, investigations ...Published: 19 Mar 2021 at 09:36hrs | | by Staff reporter
Army-linked Anjin grabs richest diamond claim
AN army-linked miner, Anjin Investments (Pvt) Ltd, grabbed the most lucrative diamond claim in Marange from a firm owned by the government after being relicensed under unclear circumstances, it has em...Published: 15 Jan 2021 at 07:47hrs | | by Kenneth Matimaire
Type 2 diamonds to anchor Zimbabwe's US$12 billion industry
GOVERNMENT yesterday said it would anchor its US$12 billion mining industry economy on a rare and more expensive type two diamond set to be mined in its Malipati Diamond Projects in Matabeleland South...Published: 10 Nov 2020 at 05:48hrs | | by Staff reporter
China to help remove Mnangagwa over Zimbabwe diamonds war with Russia
This article first appeared on Spotlight Zimbabwe. LONDON - President Emmerson Mnangagwa's presidential exit is all but sealed amid reports that China ...Published: 22 Jul 2019 at 09:02hrs | 14 | by Itai Mushekwe
Obert Mpofu reported to Zacc
CANADILE Miners boss Lovemore Kurotwi has upped his bid to recover diamond mining equipment, cash and gemstones seized from his enterprise by former mines and mining development minister, Obert Mpofu,...Published: 19 Jul 2019 at 07:54hrs | | by Staff reporter
Dr Kurotwi's comment on Ncube's piece in the Bulawayo24
Before outlining my comment in full, I want to straighten the incorrect position taken by Ncube when he accuses me for having singled out Obert Mpofu as corrupt.A historical narrative would as...Published: 04 Jul 2019 at 10:02hrs | 2 | by Dr. Lovemore Kurotwi
Zimbabwe rakes in US$1bn from minerals in Q1
Zimbabwe's mineral production reached US$970,5 million in the four months to April with gold accounting for 38% of that amount at US$383,8 million, official data has shown.Statistics compiled ...Published: 09 Jun 2019 at 09:43hrs | 8 | by Staff reporter
Mnangagwa demands end to bureaucracy
PRESIDENT Mnangagwa on Friday demanded an immediate end to bureaucracy by companies and individuals against foreign investors as the country witnesses unprecedented investor interest in the mining sec...Published: 02 Jun 2019 at 08:17hrs | 2 | by Staff reporter
Zimbabwe to announce more PGM investors
Government will, in the next few weeks, announce at least two more investors that are expected to deploy huge foreign capital in the country's platinum sector as scores of local and foreign investors ...Published: 28 Apr 2019 at 07:30hrs | | by Staff reporter
Cyclone Idai washes away Zimbabwe diamonds target
AS the Zimbabwe Consolidated Diamond Company (ZCDC) sifts through the wreckage of the devastating Cyclone Idai, preliminary indications are that the firm will miss its first quarter production target ...Published: 07 Apr 2019 at 08:38hrs | 5 | by Staff reporter
Diamonds to contribute $1bn a year
Government yesterday commissioned the Airborne Mineral Exploration project in Chivi and Mwenezi districts in Masvingo Province to establish the extent of diamond deposit in the area. It is believed th...Published: 26 Mar 2019 at 06:17hrs | 1 | by Staff reporter
Cabinet Okays ZMDC unbundling
Cabinet on Tuesday approved the unbundling of State mining arm — the Zimbabwe Mining Development Corporation (ZMDC) — into four mineral specific units as efforts to improve efficiency in State-own...Published: 20 Feb 2019 at 22:35hrs | | by Staff reporter
Zimbabwe urgently needs own currency
THE drive for Zimbabwe to have its own currency is understandably gain-ing traction, particularly given the aberrations of price increases, multi-tier pricing and foreign currency shortages on the loc...Published: 17 Feb 2019 at 18:44hrs | | by Edmore Ndudzo
'Zimbabwe targets $4 billion from mining'
Zimbabwe is targeting to generate over US$4 billion in revenue from the mining sector this year, Mines minister Winston Chitando has said.In 2018, the sector earned US$3,4 billion driven by th...Published: 06 Feb 2019 at 08:21hrs | | by Staff reporter
ZCDC pursues diamond find in Chihota
STATE-RUN diamond firm, Zimbabwe Consolidated Diamond Company (ZCDC), says it will carry out exploration work for gems in Marondera district as part of its expansion scheme.With alluvial diamo...Published: 25 Jan 2019 at 08:23hrs | 5 | by Staff reporter
Mnangagwa arrives in Belarus
President Emmerson Mnangagwa has concluded his three-day State Visit to Russia, describing it as very fruitful as evidenced by the number of investment deals that he and his delegation concluded. ...Published: 17 Jan 2019 at 00:13hrs | 1 | by Staff reporter
Mnangagwa flees to Russia?
President Mnangagwa early this morning left for Russia on the first leg of a whirlwind five-country tour that will take him across Eurasia and then to Switzerland, as part of his international engagem...Published: 14 Jan 2019 at 15:08hrs | 1 | by Staff reporter
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