Diamond output expected to exceed 5m carats
THE country’s diamond sector is on the right path to exceed its targeted US$1 billion
contribution to the Gross Domestic Product (GDP) backed by exceptional performance by mining companies such as state-owned Zimbabwe Consolidated Diamond Company (ZCDC).
Mines and Mining Development Minister Winston Chitando said diamond production in the country had grown from 1,7 million carats in 2017 to close to four million last year, with this year’s production expected to reach five million carats.
He was speaking on the sidelines of the extra-ordinary meeting of the Association of African Diamond Producing Countries (ADPA) and Council of Ministers here last Thursday.
Minister Chitando said the diamond industry as a sector, was expected to achieve US$1 billion as a contribution to the US$12 billion mining industry milestone by 2023.
This comes as the Government has intensified efforts to draw competitive advantages from all available minerals towards meeting the US$12 billion 2023 target.
There are more than 60 minerals in the country and Government has made significant
progress in attracting investors to exploit them.
Diamonds, gold, platinum group metals, hydrocarbons like oil and gas, coal, gold, lithium, chrome and ferrochrome are expected to be major contributors to the US$12 billion industry.
“In 2017 Zimbabwe did about 1,7 million carats and that increased last year to close to four million carats and the budget this year is for ZCDC to increase its production to more than five million carats and by end of next year it will be on seven million carats,” said Chitando.
He said ZCDC, Murowa Diamonds and new player, Angin, have done exceptionally well. “ZCDC as the largest producer have increased production and improved efficiency thereby reducing operating costs,” Minister said Chitando.
He said Murowa Diamond had invested US$450 million to put up a plant and undertake mining operations. The plant will be operational next month.-chronic.cozw
