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Zimbabwe Mines and Mining Development Minister <a href="https://www.pindula.co.zw/Winston_Chitando">Winston Chitando</a> has said the government is confident it will produce six million carats and generate US$1 billion from the diamond industry next year in line with set targets.
The government plans to grow the mining industry to US$12 billion by next year.
The diamond sector is projected to contribute US$1 billion; Gold is expected to generate US$4 billion, while platinum is expected to bring in US$3 billion.
When the plan was launched in October 2019, mining contributed only US$2.7 billion to economic growth and to US$5.3 billion last year.
In 2021, diamond production stood at four million carats, up from 1.8 million carats recorded in 2018.
Chitando told <a href="https://www.sundaymail.co.zw/zim-confident-of-producing-6m-carats-next-year">The Sunday Mail Business</a> that the set target in the production of precious stones was on the back of expansion projects, as well as value addition and beneficiation initiatives in the sector.
Speaking after officiating at the inaugural gemstones conference organised by the Zimbabwe School of Mines in Harare last week, Minister Chitando said:
<blockquote>
All I can say is we are achieving US$1 billion next year . . .
During the Covid-19 pandemic, the diamond industry became subdued. I would rather focus on the future and on the fact that we are going to do over six million carats next year, through which we will achieve our US$1 billion.
On the diamond side, we are very clear in terms of the gemology centre, value addition and the arrangement between ZCDC (Zimbabwe Consolidated Diamond Company) and Aurex, and various other value addition initiatives which are being undertaken.
</blockquote>
Current projects under expansion and development include Alrosa, Anjin and Murowa Diamond.
Meanwhile, government critics say while Zimbabwe is endowed with vast natural resources and is host to more than 40 different minerals in the categories of precious metals, base metals, industrial metals and gemstones, the resources are only benefiting political elites.
They say rampant looting in the mining sector results in the allocation of insufficient funds towards service delivery.
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

Pindula News

Zimbabwe Confident It Will Produce 6 Million Carats And Generate US$1 Bn From Diamonds

RioZim has bought Sperrgebiet Diamond Mine in Namibia as the Zimbabwean group seeks to expand in Africa.
Without disclosing the amount paid for the mine, Tawanda Andrew Chiurayi, RioZim’s group company secretary told Bloomberg News that they also want to diversify their assets. Said Chiurayi:
<blockquote>
The group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part of the strategy.
We also want to diversify our assets and geographies.
</blockquote>
However, people familiar with the matter who spoke to Bloomberg on condition of anonymity said that the acquisition cost US$58 million.
Sperrgebiet holds two onshore and two offshore mining licences, within Luderitz’s protected diamond zones, according to the company’s website.
Chiurayi said RioZim is also planning further investments in base and precious metals in Zimbabwe, after spending more than US$150 million at its gold mine and a new plant at the Murowa diamond mine.
He said Output at Murowa tripled in September following the investment. 
RioZim, which also has interests in coal and a nickel refinery, said rules that oblige miners in Zimbabwe to switch 40 percent of their income into local currency are proving a drag on its operations.
Chiurayi said forex shortages and power shortages are seriously hampering progress, but remained hopeful that their long-term plans won’t be inhibited.
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

RioZim Buys A Namibian Diamond Company

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