Zim to have new diamond miner | The Herald

via Zim to have new diamond miner | The Herald October 15, 2013

The Government has granted a licence to Global Diamond Trekkers to explore for the gems in the Middle Sabi area of Manicaland province, about 100 km south east of the Chiadzwa fields. According to a statement issued by the company, it was given permission to investigate the potential for mining diamonds in the Middle Sabi area. The alluvial diamond concession lies in the Middle Sabi valley, about 167 km south of Mutare in Manicaland province.

Global Diamond Trekkers said it had since engaged a consultancy firm to conduct an Environmental Impact Assessment for the project. The company will in the short term conduct an exploration exercise to determine the extent of the resources.

“This will be followed by selecting the optimum mining method and appropriate processing technology and equipment and allocating economic factors leading to project viability.”

Thereafter it would seek compliance with industry regulator the Kimberly Process Certification Scheme. Zimbabwe is a notable diamond producer with huge reserves of the mineral especially in the Marange area.

The five joint-venture mines in Marange produced a combined eight million carats of the gems last year and generated at least US$684 million in exports.

There are other smaller players in the industry including River Ranch mine in Beitbridge and Rio Tinto’s Murowa mine in Zvishavane, Midlands province.

Zimbabwe’s potential in the sector had been held back by sanctions imposed on the Zimbabwe Mining Development Corporation, which operates various diamond mines on behalf of the Government.

With the EU recently lifting the sanctions, Zimbabwe is poised to realise increased revenue from its diamond mines as the gems begin to be channelled towards more lucrative markets. Industry experts say Zimbabwe has the potential to account for at least 25 percent of global production by the end of the decade. – New Ziana.