Alrosa signs a joint venture with ZCDC to develop diamond deposits

ZIMBABWE – The Government of Zimbabwe is on the verge of striking a US$450 million deal with a diamond mining company for the production of 850 000 carats of diamonds, through the Zimbabwe Consolidated Mining Company, as part of efforts to increase earnings to US$1 billion by 2023. Mines and Mining Development Minister Winston Chitando said the agreement would complement the plan to recapitalise ZCDC (Zimbabwe Consolidated Diamond Company) in the next few months to increase production. Minister Chitando said the US$1 billion target for diamonds was premised on the…

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