By Business Reporter – Tuesday 26 May 2020
HARARE (Mining Index) – AN INDIAN-owned company with an existing local manufacturing concern is eyeing to set up a diamond processing plant in Chiadzwa as soon as the ZCDC/Katanga joint venture is concluded.
Katanga is a partnership formed between Vast Resources Enterprises (VRE) and the Chiadzwa community represented by Chiadzwa Mineral Resources (CMR).
The Indian company, which is already into cooking oil manufacturing is said to have all the equipment in the country ready to set up the processing centre in Chiadzwa.
“We have an Indian company which we roped in. They are a local company into manufacturing of cooking oil. They have the equipment. We have seen the machinery already here in Harare,” said Newman Chiadzwa, CMR chairman during an interview earlier this year.
“We have introduced them to the president and cabinet and they are doing due diligence with them and once they finish, that will be the company doing cutting and polishing of diamonds coming out of the Chiadzwa community. They will be setting up operations as soon as the President signs this deal.”
He said VAST will not be beneficiating the diamonds.
“If they want to do that they will have to make an application,” said Chiadzwa.
The finalisation of the joint venture has taken too long, with all parties eagerly waiting to commence mining of the precious stones. ENDS// www.miningindex.co.zw
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