Zimbabwe government shuts down diamond miners


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The Zimbabwe government today ordered all diamond miners in the east of the country to shut down operations after they declined its proposals to nationalise the industry, adding that their operating licences had expired.

The state sought to bring all diamond mining operations in the country under one firm in which it would hold a 50 percent shareholding after accusing the miners of failing to account for revenue from their operations.

There ßare six miners in Marange, including Anjin Investments, Diamond Mining Company, Jinan, Kusena, Marange Resources and Mbada Diamonds. The government holds 50 percent shareholding in all the firms.

Mines minister Walter Chidhakwa told a press conference that the miners had declined the state’s invitation to the new government dominated firm — a move his finance counterpart Patrick Chinamasa said earlier was necessary to bring accountability to the murky dealings in the sector — and that they had failed to renew their operating licences.

“Since they no longer hold any titles, these companies were notified this morning to cease all mining activities with immediate effect,” Walter Chidhakwa told reporters and executives from the affected mines.-

(63 VIEWS)

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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.

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