LATEST: Diamond workers nail companies in missing $15 billion

LATEST: Diamond workers nail companies in missing $15 billion | The Herald April 15, 2016

Lloyd Gumbo Senior Reporter

Workers at diamond mining companies that were operating at Chiadzwa say there were high chances of pilferage of the precious mineral which could have resulted in the country losing about $15 billion.

President Mugabe revealed last month during his 92nd birthday interview with the Zimbabwe Broadcasting Corporation that the country received less than $2 billion out of a possible $15 billion from the Chiadzwa diamonds where more than five companies were licensed to operate.

The Zimbabwe Diamond Miners Workers Union (ZDMWU) told the Parliamentary Portfolio Committee on Youth, Indigenisation and Economic Empowerment chaired by Zanu-PF MP for Gokwe-Nembudziya, Cde Justice Mayor Wadyajena that proceeds from diamonds extraction were not commensurate with money derived from their sale.

ZDMWU president, Mr Francis Matinyarare said Government should have consulted the workers when the companies were still operating in Chiadzwa which could have limited the scale of diamond leaks.

“It is clear from the fact that these miners while still mining they could not pay workers. Which means something terribly wrong was happening,” said Mr Matinyarare.

Details to follow….


  • comment-avatar

    I think there is a good number of highly placed and connected companies, persons who were involved in the diamond debacle..

    More thorough searches will lead us to the Panama papers!

  • comment-avatar
    Mukanya 6 years ago

    The purported looted US$15 billion has a hall of ZANU PF trade-marks.