MINING concern, Zimbabwe Consolidated Diamond Company (ZCDC) anticipates a major upward trend in diamond production output, a move expected to see the company joining the bracket of other top diamond producing companies in the world.
In a statement, ZCDC Chief Executive Officer (CEO), Dr Morris Bekezela said, ‘We are targeting a 21 percent Compound Annual Growth Rate (CAGR) in production to around 11 million carats by 2025 from 3 million carats in 2018.’
ZCDC Chairman, Engineer Kilian Ukama said ‘ZCDC is aiming to be among the top rough diamond producers in the world with targeted annual production of 11 million carats by 2025.’
An expected production output of 250 000 carats per month is expected. Exploration activities have increased significantly for new deposits and sustainable mining plans.
ZCDC was founded in 2015 following the March 2015 government decision to consolidate diamond mining the diamond-rich Marange region to correct shortcomings of the multiple company models that had been adopted.
Prior to the establishment of ZCDC, companies mining diamonds in Marange included Mbada Diamonds, DMC, Anjini, Marange Mineral Resources and Canardia among others. The scramble of diamonds in Marange also saw hundreds of artisanal miners flocking to get a share of the precious stone.
Government intervened to consolidate the diamond mining sector after realisation that the sector had failed to make the desired socio-economic impact.
In his foreword, Mines and Mining Development minister honourable Winston Chitando said, ‘Government took deliberate steps to ensure transparency, accountability and responsibility in the industry to warrant that diamonds make the intended contribution to the development of the nation as in other countries that have managed to manage the resource efficiently for the benefit of their economies and citizens.’
Honourable Chitando noted that it was encouraging to note that significant capacity has been created in diamond production with a successful transition from alluvial to a conglomerate based mining model which has seen commendable improvement in the company’s performance as evidenced by increased production, profitability and investment into sustainable mining.
Production doubled year on year 2016/2017, with a ten-fold increase in investments.
ZCDC has mirrored itself in line with the ‘Zimbabwe is Open for Business’and the ‘Ease of Doing Business’ mathras, that are anchored on investment promotion, industrial growth and development through capacity building, efficiency, and effectiveness in operations.
ZCDC’s results on the implementation of the Diamond Mining Business Model are beginning to yield, with the company beginning to record a commendable improvement in both productivity and investment.
Engineer Ukama said ZCDC’s goal is to see diamond revenues unlocking value for ordinary Zimbabweans through investments in infrastructure, foreign currency generation, employment creation and sustainable development programs funded by diamond revenues.