ZMDC courts investors

via ZMDC courts investors – NewsDay Zimbabwe 11 November 2014

HARARE — The State-run Zimbabwe Mining Development Corporation (ZMDC) says it is negotiating with a number of potential investors to partner it in exploring for more diamond reserves, particularly kimberlite deposits, in the Chiadzwa area in Manicaland in eastern Zimbabwe.

Kimberlites are deep-seated rocks found in the earth’s crust which contain diamonds.

Zimbabwe currently extracts alluvial diamonds from the vast Marange diamond fields, in Manicaland province, but these are fast depleting, prompting need to explore for new deposits.
However, most miners in the Chiadzwa area have said that they do not have the funds and machinery to explore and mine kimberlite diamonds.

ZMDC chairman David Murangari said over the weekend that alluvial mining operations could not be sustained for long hence the need to explore for kimberlitic pipes.

“We must now involve ourselves in the search for kimberlitic diamonds in the area,” Murangari said.

“We have been talking to some investors who are interested in getting into proper exploration for kimberlitic diamonds in the area and we hope through joint venturing with the Mining Promotion Corporation (the government mineral exploration company), a joint venture would be established and quickly go on the ground and start looking hard.”

Murangari said possibilities were high that more deposits would be found since alluvials are known to originate from kimberlite pipes and get moved to the surface by geological activity.

“All those alluvial diamonds originated from some kimberlitic sources, but one has to search and find those sources. If we are to improve the state of our diamond industry one has to look at exploration to find new resources,” he said.