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Diamond firms told of their fate [Zimbabwe]

Author: Tendayi Mugabe, Herald (Zimbabwe), Published on: 24 April 2014

Government has formally informed diamond companies in Marange that only one or two..will be left to mine, after they failed to properly account for revenue...from their operations...The remaining...firms will operate as joint ventures with Government...It was not clear...which... companies would remain, but Marange Resources could survive...as it is the only one wholly-owned by the Government through the Zimbabwe Mining Development Corporation...Mines and Mining Development Minister Walter Chidhakwa..said...“We have invited the...companies to discuss policy direction and...deal with...consolidating...issues...”...Government wants to model...operations along the Batswana lines, where the State retains a controlling stake...Minister Chidakwa...said Zimbabweans had not got what they expected from Marange and as such it was important to streamline...to ensure transparency and accountability [also refers to Anjin Investments, Diamond Mining Company, Gye Nyame, Jinan, Kusena, Marange Resources and Mbada Diamonds, Debswana, Botash]

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Related companies: Anjin (joint venture Anhui Foreign Economic Construction, Zimbabwe Mining Development Corporation & Govt. of Zimbabwe) Debswana (joint venture De Beers & Botswana Govt.) Marange Resources (part of Zimbabwe Mining Development Corporation) Mbada Diamonds (joint venture New Reclamation Group & Zimbabwe Mining Development Corporation) Zimbabwe Mining Development Corporation (ZMDC)