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Zimbabwe pins hope on diamonds, gold

05 september 2018
Zimbabwe’s mines ministry said that mineral export earnings were projected to rise by 377 percent over the next five years, driven mainly by diamonds and gold.
The Standard newspaper quoted the outgoing mines minister Winston Chitando as saying that diamond output would jump to 3 million carats from 1,8 million carats produced last year, while gold was forecast to exceed 100 tonnes by 2023.
“The mining sector contributed US$2,6 billion into the country’s economy last year and it is expected to contribute $12 billion by the end of 2023,” he said.
“It will be underpinned by the growth of the diamond sector by expanding their output by intensive exploration and the finalisation of the conglomerate plant which will see the country getting 3 million carats from 1,8 million carats produced last year.
“In terms of gold, 26 tonnes were produced last year and it is expected to reach 35 tonnes by year end and over 100 tonnes by 2023.”
Diamonds and gold were among Zimbabwe’s top eight foreign currency earners.
Zimbabwe’s diamond output had declined due to what Harare called “transitional challenges” following the establishment of the state-owned Zimbabwe Consolidated Diamond Company, which replaced the previous Marange diamond mining companies.

Mathew Nyaungwa, Rough&Polished