The Board of IronRidge Resources Limited, the African focussed minerals exploration company,...
Russian, Chinese miners to invest in Zimbabwe’s diamond sector
Zimbabwe’s government has selected Rus-sia’s Alrosa Diamond Company and China’s Anjin Investments to partner with Zimbabwe Consolidated Diamond Company (ZCDC), Murowa Diamonds and two other local firms on a number of diamond exploration and mining projects.
The latest development comes following a recent visit by Zimbabwe’s President Emmerson Mnangagwa to Russia, reports local daily The Herald.
Last year, ZCDC announced it will invest $400 million under its vision 2025 plan to achieve a production target of at least 10 million carats per year in the subsequent four years.
Set up in 2015, ZCDC is owned by the Zimbabwean government through Zimbabwe Mining Development Corporation (ZMDC) which holds a 100% stake in the diamond miner. The company says its operations portfolio consists of eight mining concessions, of which three are operating and a further five are under resource eval-uation.