ALROSA has invested about $15 million in a joint venture (JV) with the state-owned Zimbabwe Consolidated Diamond Company (ZCDC), RIA Novosti reports.
ALROSA and ZCDC established a JV in December 2019 to explore new diamond deposits in Zimbabwe. Alrosa Zimbabwe, which is 70% owned by the Russian company, initially received exploration licenses for 25 concessions, and for another 15 concessions in September 2021.
Most of them were located in Manicaland, Masvingo and North Matabeleland provinces.
ALROSA noted that cooperation with Zimbabwe is currently being implemented through investments in exploration and construction of diamond mining enterprises. And the development of new diamond deposits will also allow Zimbabwe to take a leading role in the world diamond market.
"Today, the JV employees are conducting exploration at 40 sites in accordance with the issued licenses. This is a large-scale work. The further direction of the projects will be determined when the results are obtained," ALROSA added.
At the same time, when asked about its readiness to increase investments in other countries of the region, ALROSA said it is open to cooperation with other African partners.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
