Zimbabwe seeks review of Marange deals, eyes bigger stakes

Zimbabwe’s Mines and Mining Development Ministry wants a review of all diamond contracts signed with foreign-owned companies operating in Marange.
Deputy Minister Gift Chimanikire was quoted by The Herald newspaper as saying that Harare was not benefiting much from the diamonds due to the nature of the agreements.
Companies mining diamonds in Marange had entered into 50-50 joint ventures with the state-owned Zimbabwe Mining Development Co-operation (ZMDC).
Chimanikire said ZMDC should own at least 70 percent in the mining ventures.
“As a ministry we are advocating to some of our colleagues that we need to re-visit some of the contracts we signed with foreign companies mining diamonds,” he said.
“Diamonds are our own natural resource and Government should review those contracts and ensure Zimbabwe benefits. We deserve better than the 50/50 (…). Government should have at least 70 percent or even 80 percent. Let us re-look at that policy. We signed those deals when we were poor. We are no longer poor.”
Chimanikire said some companies mining in Marange had not contributed anything to the country’s Treasury they started operations.
This followed a claim by Finance Minister Tendai Biti last week that the Chinese company, Anjin Investments had failed to remit revenue from its operations in the first quarter of the year.
Companies mining diamonds in Marange were Mbada Diamonds, Anjin Investments, Pure Diamonds and ZMDC’s wholly owned - Marange Resources.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished