Zimbabwe’s New Diamond Discovery Could Help Struggling Miners

The Africa Report said yesterday that Zimbabwe expects to gain billions of dollars from mining new diamonds fields “almost the size of Swaziland.” That’s good news for the African nation, which about a month ago received news that its Chiadzwa diamond fields are becoming less viable to mine.

As quoted in the market news:

Deputy Mines minister Fred Moyo told state media that the diamond fields located between Manicaland and Masvingo province stretch over 10,000 square kilometres.

He said the government has already begun sourcing funds to kick start operations

‘It is a very huge area. So, obviously the whole area cannot contain a large concentration of diamonds, but the fact is there is huge potential,’ Moyo said.

‘What we need to do is mobilise funds to carry out extensive exploration that will determine the areas profitable to mine.

‘We are actually going to use part of our national budget allocation to send our experts to carry out exploration activities in the area.

Click here to read the full report from The Africa Report.