Zimbabwe Consolidated Diamond Company (ZCDC) is targeting diamond production of 10 million carats in the next five years.
While unveiling boards of directors for ZCDC and the Zimbabwe Mining Development Corporation (ZMDC) Mines and Mining Development Minister Winston Chitando said the mining sector going forward has a critical role to play in assisting Government to meet its 2030 vision of a middle income country.
He said ZCDC together with ZMDC should put in place measures that will see the country benefiting from the mineral resources through production ramp up.
“The mining industry will play a role in the achievement of Government targets and as a result the boards for the two companies plus other boards which will be appointed should play a role in executing the key objectives for the economy.
Last year, ZCDC produced 1,8 million carats of diamonds; and the target according to the company’s strategic plan is to produce 10 million carats by 2023. This would be increased to 12 million carats by the year 2025.
Chitando appointed mining engineer Killian Ukama to head the ZCDC board. Other board members for the diamond miner include, Ellah Muchemwa, Mimosa head of Corporate Affairs Elizabeth Nerwande, former Ambassador Zenzo Nsimbi, Colonel Chiadzwa, Alexander Mukwekwezeke and Retired Colonel Niya Mtombeni.
On ZMDC, Chitando said the state mining vehicle has over 20 assets under its arm but due to capital constraints the mines are barely operational.
Following the change in Government, however, Chitando said there was now increased appetite from investors to put capital in comes of the assets.
ZMDC in February this year invited tenders from private partners to invest in six mines and Chitando said 151 expressions of interest had been received. The adjudication process has been set for completion by mid-June
Chitando appointed Mimosa executive director Peter Chimbodza to head the ZMDC board. Other directors include Wellington Pasipamire, Richard Jaure, Charles Tahwa,Reason Mandimuka, Slava Chella and former board chairman David Murangari.
