ZMDC ‘doing nothing’: Mugabe

via ZMDC ‘doing nothing’: Mugabe 14/12/2013 NewZimbabwe

PRESIDENT Robert Mugabe Friday ordered a clean-up at the State-owned Zimbabwe Mining Development Corporation (ZMDC) which he says is “doing nothing.”

Addressing members during Zanu PF’s annual conference in Chinhoyi, Mugabe said there is need to ensure greater transparency in the company’s operations.

“We shall be looking at the possibilities of rationalising the mining of diamonds,” he said.

“We would also want greater transparency then. Our own arm mind you in all these companies we have ZMDC … ZMDC is doing nothing.”

He added: “We have said ZMDC can establish your own mines, organise our people, the ones we train, the ones with experience get them to do mining as Zimbabweans without foreigners without having to export anything. So we will have to shake up the ZMDC.”

The ZMDC holds shares on behalf of government in Mbada diamonds, Ajin and the Diamond mining cooperation.

Mugabe said there is need for value addition of the minerals.

“We should not continue to send our minerals out in their raw form,” Mugabe said.

On Wednesday diamond players said the country has a potential to earn over US$6, 5 billion if all the germs are beneficiated.

Last year, the country produced 12 million carats of rough diamonds valued at $644 million but failed to generate significant revenue or create jobs as almost all the diamonds were exported in their rough state.