Marange firms to invest in conglomerate and kimberlite diamond mining

Published: 10 March 2014
Diamond companies operating in Marange are gearing up to invest in machinery that will enable them to mine the deep seated conglomerate and kimberlitic diamonds following the depletion of the alluvial ore in the area.

The companies told the parliamentary portfolio committee on Youth, Indigenisation and Economic Empowerment chaired by Gokwe-Nembudziya MP Justice Wadyajena that they were ready to start mining abundant kimberlite and conglomerate diamonds.

Marange Resources acting chief executive Mark Mabhudhu said diamonds would be available for the next 10-15 years.

"We have 1 050 hectares of alluvial but that trait of the gem has not been as abundant as it was when we started mining and the grade is not as high. But we have 3,5km to 4km of conglomerates and kimberlites along a hill strike. I would say we still have 10 to 15 years of mining in that area to the extent of open cast mining but we have to start mining sustainably," he said.

Mbada diamond chairman Richard Mhlanga also said the alluvial ore was depleting in their claim but the kimberlites and conglomerates were still available.

"People tend to shy away from the kimberlitic and conglomerate diamonds because of the high cost involved. Returns are equally exponential because the bulk of them are gems," he said.

He said the firm had already conducted surveys to determine the extent to which the diamonds ran and how best to start mining.

The country got the most from diamonds in 2011 and thereafter production has been on the decline in terms of quality and quantity. In 2011, diamonds were contributing to the fiscus between $23 million to $33 million a month.
- bh24
Tags: Marange, Diamonds,

Comments

Latest News

Latest Published Reports

Latest jobs