Categories: Stories

Parliament calls on government to investigate Kasukuwere over Marange–Zimunya Community Share Ownership Trust within 14 days

2.4 Unclear Expectations

Among the factors driving this enquiry was the appearance of a lack of clarity and consistency across the five mining companies of the role they were to play in the M-Z CSOT. Anjin Investments, for instance, had previously expressed that it was not aware of the Marange-Zimunya Community Share Ownership Trust (CSOT) and that it had not made any pledges towards its implementation. This was contrary to the assertions of the former Youth Development, Indigenisation and Empowerment Minister, Honourable Saviour Kasukuwere, who accused the mining companies of dishonesty. Reports of the diamond companies’ failure to pay $10 million towards the pledged $50 million target for Marange-Zimunya Community Trust, therefore, could not be understood, given reports and speculation that the companies were enjoying significant profits.

2.5 Relocated Community Members

The Committee was concerned with the relocation of the displaced villagers by the mining companies. Villagers were allocated land in ARDA-Transau but complained of being allocated one hectare plots, which were insufficient in meeting their needs. It was also reported that their compensation of $1,000 per family has not been remitted (this was still the case as of March 2016.)

2.6 Consolidation of Diamond Concerns

The Zimbabwe Consolidated Diamond Corporation (ZCDC) seeks to amalgamate all diamond concessions in the country. ZCDC will inherit both the assets and liabilities of the diamond mining companies, including the pledges towards share ownership trusts. Minister of Mines and Mining Development, Honourable Walter Chidhakwa has stated that the new diamond firm will honour the $50 million pledge to the Marange-Zimunya Community Share Ownership Trust “The successor company will inherit both assets and liabilities of the merging companies…What this means is that companies in Marange, as is the case, took a position on the community share ownership trust…The new company will take over that responsibility and will, therefore, have to fulfill that pledge.[2]”  As such the exact nature of this commitment must be established and clarified for the benefit of the communities and the ZCDC.

3.0    METHODOLOGY

In undertaking this enquiry, the Committee adopted the following methodology:

3.1 Oral Evidence Sessions

The Committee held oral evidence sessions with the following key stakeholders:-

k)   The board of Trustees of the Marange-Zimunya Community Share Ownership Trust on 13 and 27 February, 2014;

l)     The Diamond Mining Companies (i) Anjin Investments (ii) Diamond Mining Company (iii) Mbada Diamond (iv) Marange Resources and (v) Jinan Investment Private Limited on 07 March, 2014;

m)Honourable Christopher Mushowe, then Minister of State for Provincial Affairs, Manicaland Province on 10 April, 2014;

Continued next page

(630 VIEWS)

This post was last modified on %s = human-readable time difference 9:03 pm

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

View Comments

Recent Posts

Zimbabwe economy expected to grow by only 2% this year but shoot to 6% next year-IMF

Zimbabwe’s economy is expected to grow by only 2% this year because of the devastating…

June 28, 2024

Reserve Bank of Zimbabwe to maintain tight monetary policy

The Reserve Bank of Zimbabwe is to maintain its current tight monetary policy to ensure…

June 27, 2024

Why ZANU-PF really wants a two-thirds majority

The recent elections in South Africa, where the ruling African National Congress lost its majority,…

June 10, 2024

ZiG hits record high against US dollar

Zimbabwe’s new currency, the ZiG, today hit a new record high against the United States…

May 23, 2024

ZiG continues to hold its own

The Zimbabwe Gold, ZiG, continued to firm against the United States dollar ending the week…

May 17, 2024

Zimbabwe requires 46 000 tonnes of grain a month to feed those without food

Zimbabwe will be issuing 7.5 kg of grain a month to each of the six…

May 16, 2024