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Zimbabwe Diamond Mine Thrives Under Chinese Investment Company

10/23/2011 8:55:12 AM  Shira

zimbabwe diamond mineA Zimbabwe diamond mine run by Anjin Investments, a Chinese company that mines for diamonds in the Chiadzwa fields of Zimbabwe, is now the top producer of diamonds in Zimbabwe, at around 234,749.92 carats per month.
 
Anjin Investments is a joint venture between the Zimbabwe Mining Development Corporation (ZMDC) and the Anhui Foreign Economic Construction Corporation of China, a public company operating under the Chinese Ministry of Construction. Anjin is also the only Chinese company currently mining in Zimbabwe and has a larger output than Zimbabwe’s own mining firms. Anjin is still awaiting permission from the Kimberely Process to sell its diamonds, however, and is sitting on a stockpile of diamonds as a result.

"Anjin has not yet been given the green light to sell their diamonds so their stock is piling and is around 2.5 to three million carats and are still waiting for Kimberley Process Certification Scheme inspection team and the meeting is going to be held in Democratic Republic of Congo very soon to get to know whether we are going to export," said Gift Chimanikire, Zimbabwe's Deputy Minister of Mines and Mining.

The Minister has also said that the draft of a Diamonds Bill is expected to make rounds at the cabinet before the end of the year. Other items on the agenda are the reopening of a contract for aerial assessment of the country’s Marange diamond fields by the end of 2011.


Trailing behind Anjin Investments in diamond product output are Mbada Mining Ltd., which produces about 1645,000 carats a month and Marange Mineral Resources Ltd., whose output is approximately 105,000 carats a month.



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