Merging of Marange Diamond Companies May be Delayed

The Herald reported yesterday that according to Fred Moyo, Zimbabwe’s deputy minister of mines and mining development, the merging of diamond companies operating at the Marange diamond fields could take longer than expected.

As quoted in the market news:

‘Mines are operating at the moment under legal contracts, so if we are going to compress them we must do it legally, respecting investment, respecting our laws, without creating different views of how we do things,’ said Deputy Minister Moyo.

‘That is the area we need to tackle now and we are working on that. We are not yet clear as to how we are going to address these various aspects so that we are not seen to be disfranchising people who invested in our country under specific laws at that point in time.’

Mines and Mining Development Minister Walter Chidhakwa is on record saying diamond mining firms would be merged to streamline their operations and ensure accountability for their proceeds.

Click here to read the full report from The Herald.