Mbada Diamonds yesterday said it will acquire high-tech machinery to start mining deep-seated conglomerate and kimberlite diamonds in the Marange area as alluvial deposits decline.
Diamond miners in the verdant Marange fields, who have been engaged in open cast operations, last year said they had hit hard rock and that alluvial deposits were thinning out on their allocated concessions. They also said the deep seated conglomerate diamonds were not commercially viable.
But Mbada, a joint venture between South Africa’s New Reclamation Group owned Grandwell Holdings and the government’s mining investment vehicle Zimbabwe Mining Development Corporation, said it was importing new machinery to mine the deep-seated deposits.
“Our strategic thrust for 2014 is to heavily invest into mining of deep-seated conglomerate and Kimberlitic material, which requires an extensive capital outlay,” said Mbada in a statement.
“We are concentrating on balancing between our efforts in enhancing our operational capacity and efficiency as well as fulfilling our normal CSR investment thrust.”
The firm has embarked on major cost cutting initiatives that have seen to reduce ‘budgets in all facets.”
Early this year, it slashed workers’ salaries by half and reduced its annual soccer sponsorship package for the Mbada Cup from $1 million to $250 000.-The Source