The Zimbabwe Consolidated Diamond Mining Company (ZCDC) failed to meet its 2019 target of 3 million carats, but officials are buoyant fortunes will turn around as the firm has consolidated its investments in exploration, mining and processing to improve output this year.
Speaking durng a media tour of Chiadzwa diamond fields on Friday last week, Acting ZCDC Chief Executive Officer Roberto DePreto said they are aiming to double the 1.6 million carats produced last year through joint venture agreements, increased exploration as well as mitigating viability challenges, linked to power shortages and access to foreign currency.
“Since the Diamond Policy was issued we are now looking for joint venture partners, those joint venture partners get allocated a particular concession and we then subdivide the (overall) 626 special grant into specific special grants for those venture companies.
“Last year we produced 1.6 million carats and this year we are targeting to double that through our investments in new plant machinery and our exploration capabilities,” said DePreto.
Consuming an average of 5 megawatts and at 25 000 of diesel daily, ZCDC has also invested in new plant machinery from Belarus which needs foreign currency for repair and maintenance, with at least seventy percent of consumables and spares imported.
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