The signed JV agreements are expected to see an increase in diamond output and thrust the sector on the path to attaining the 10 million carats by 2023.
The agreement is also expected to mitigate constraints in the diamond sector such as limited market development, diversity and depth; and unlock a huge diamond sector potential, ensuring a significant contribution to the fiscus, foreign currency generation, job creation and general economic development.
“We are focused toward productive prospecting and exploration for primary diamond deposits in the Republic of Zimbabwe,” said Alrosa CEO Sergey Ivanov. “Signing current agreements allows us to form the company’s administration and to initiate procedures required to get necessary permissions and licenses.”
ALROSA : and ZCDC established a joint venture in the Republic of Zimbabwe.
Signing current agreements allows us to form the company's administration and to initiate procedures required to get necessary permissions and licenses. Getting authorization and first prospecting special grants, JV will be ready to operate.
December 26, 2019 – ALROSA and Zimbabwe Consolidated Diamond Company (ZCDC) signed a number of agreements to finalize a creation of a joint venture for prospect and exploration works for primary diamond deposits in the Republic of Zimbabwe.
Diamonds occur in huge quantities in Manicaland, Midlands, Mashonaland East, Matabeleland South and other provinces but strictly speaking not much of it has been extracted yet.
A country that is endowed with so much mineral wealth yet generates an average US$3 billion yearly from the resources is a true sleeping giant which must wake up. Therefore, Minister Chitando’s paper will be of interest at the conference.
THE government is on the cusp of signing an estimated US$1.4bn three-year sale purchase agreement with Russia’s diamond producer and a Swiss firm that will result in the state securitising precious stones for fuel supplies, the Business Times has established.