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Murowa Mine Aims to Boost 2016 Production to 1M Carats

Jan 27, 2016 7:55 AM   By Rapaport News
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RAPAPORT... Murowa Diamonds, a Zimbabwean mining business exited by Rio Tinto last year, wants to expand production fourfold this year, according to a Bloomberg report. The company will inject $60 million into the mine over the next four years, the report added.

“Our plan is to produce more than a million carats this year,” the news agency cited Lovemore Chimuka, a spokesman for the company, as saying in an interview at the mine. Production was 250,000 carats in 2015, he was cited as saying.

The news comes after Rio Tinto sold its 78-percent stake in Murowa last June.

“With this new capital injection we want to increase mine life and also increase our operations,” Bloomberg cited Chimuka as saying. “Last year was a bad year, but we want to do well this year.”
Tags: mining, Murowa Diamonds, Rapaport News, Rio Tinto, RioZim, Rough Production, Zimbabwe
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