Zimbabwe : Consolidated Diamond Company to operationalise processing plant

November 30, 2017
| Report Focus News

Zimbabwe Consolidated Diamond Company (ZCDC) is set to operationalise the US$15 million conglomerate processing plant by mid-December this year as the entity seeks to reposition itself as a key player on the global diamond market.

The diamond mining company whose 2017 output is projected at 1.8 million carats against the initial target of 2 million carats is bullish of strong performance in 2018 to be spurred by improved production, increased investments in exploration and addition of more portals.

ZCDC chief executive officer Dr Morris Mpofu said apart from operationalisation of the 450 tonnes per hour conglomerate plant, the entity is targeting extensive exploration in 2018 with a total of US$20 million set aside for the programme.

According to the government entity, following the US$80 million capital injection by the shareholder, key priority areas for 2018 include boosting diamond mining activities, exploration and building conglomerate mining capacity.

Meanwhile, the diamond company which has launched its new brand says valuation of the stockpile is set to be done during the first week of December which will be followed by tendering and auctioning of the gems.