RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Zimbabwe to Consolidate Marange Miners by the End of 2015

Jul 29, 2015 10:45 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... The seven diamond mining companies operating in Zimababwe's Marange diamond fields will be consolidated into a single government-owned entity by the end of the year, the country's mining minister told New Zimbabwe on Monday.

  • The seven companies Mbada Diamonds, Anjin, Marange Resources, Gye Nyame, Kusena, Jinan and the Diamond Mining Company will be merged into a new entity called the Zimbabwe Consolidated Diamond Company that is 50 percent state-owned. 
  • All companies slated for consolidation have been called by the government to hold extraordinary general meetings (EGMs) to provide audited financial statements and a formal response to the government's call for consolidation.
  • Walter Chidhakwa, Zimbabwe's minister of mines and mining development, said that EGMs would be held with each of the companies during the first two weeks of August. He added that companies that choose to decline to participate in the government's consolidation plan will be told it is time to "bid farewell."
Tags: Chidhakwa, expropriation, Marange, New Zimbabwe, Rapaport News, Zimbabwe
Similar Articles
AlrosaAlrosa Sales Rebound Slightly
Oct 15, 2019
Alrosa’s sales fell 24% year on year to $258.7 million inSeptember,...
Alrosa Finds Diamond Inside a Diamond
Lesotho Renews Letšeng Lease
US Bans Import of Zimbabwe Diamonds
BDBIndia’s Polished Trade Declines
Oct 03, 2019
India’s polished-diamond exports fell 25% to $1.64 billion inAugust, data...
Mining for information
De Beers Hires New Auctions Exec
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us