Published: 28 August 2017

The Zimbabwe Consolidated Diamond Company (ZCDC) is targeting to generate more revenue from mining conglomerate diamonds with the initiative expected to be fully operational by next year.

Since its establishment last year, The ZCDC mining company has made significant strides to reorganise operations in the diamond mining industry, with production sitting above 1.3 million carats of the precious stones.

This positive trend is expected to be sustained to reach the set target of 2 million carats by end of this year.

Huge capital investments by the government and the Reserve Bank of Zimbabwe totalling US$130 million have enabled the firm to invest in a conglomerate plant expected to be commissioned before the yearend which will mark the beginning of mining the high grade diamond that will derive more revenue for the country.

The government took a bold decision last year to bring all diamond houses under one roof to plug leakages that prejudiced Treasury of essential revenue.  

The revenue generated by the sector before this decision was not commensurate with the real value contained by this precious mineral.
- zbc

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