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Thursday, May 30, 2024

Zimbabwe’s diamond reserves at 56 million carats

Story by Theophilus Chuma

ZIMBABWE’S diamond reserves have strengthened the country’s prospects to join the prestigious “one tonne“ diamond club, a league of nations with capacity to produce more than five million carats of diamonds a year.

This comes in the wake of revelations the nation has over 50 million carats of diamonds.

Mining at the Zimbabwe Diamond Consolidated Mining Company ( ZCDC), one of the country’s largest diamond firms in Chiadzwa area of Manicaland Province, paints a positive outlook of the diamond sector.

The firm is currently on an expansion drive, primed to boost production yield to over 10 million carats a year.

The diamond miner is optimistic of the figure , given a resource statement showing it currently sits on an expansive diamond reserve of over 50 million carats.

“There is massive potential in terms of more mining work. As far as our resource statement is concerned, we have managed to confirm 56 million carats of diamonds which are still to be mined here. In terms of the depth, we have done a lot of work on surface. A lot of work has been done to depths of about 300m from drilling, so we have confirmed the existence of this conglomerate layer from surface. So there is greater potential for this unit,” said Zimbabwe Consolidated Diamond Mining Company Exploration Manager, Howell Mvura.

This effectively gives vast opportunities for the country to boost income towards the US$1 billion target for the sector , under the US$12 billion mining economy.

Combined with yields from other players such as Murowa, Alrosa and Anjin,the country’s diamond output could meet the requirements of the famed “one tonne club”, a league of nations with capacity to produce more than five million carats of diamonds a year.

The country will also leverage on hosting the upcoming Kimberley Process Certification Scheme Meeting, to be held in Victoria Falls, to improve its global standing within the diamond mining industry.

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