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Mbada Diamonds Allowed to Reclaim Marange Assets

Mar 3, 2016 2:24 AM   By Rapaport News
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RAPAPORT... One of the diamond miners told by the Zimbabwean government to cease operations at the nation’s Marange fields has been allowed to return and take control of its assets after challenging the minister’s decision.

The country’s administration ordered companies to stop mining after it did not renew their licenses, with the state-owned Zimbabwe Consolidated Diamond Company taking over excavation.

Mbada Diamonds, a 50-50 joint venture between the government and Mauritius-registered Grandwell Holdings, won a reprieve from the High Court February 29, Reuters reported. The court ordered Mines and Mining Development Minister Walter Chidakwa allow Mdaba’s security staff access to the company’s mining site in Marange, according to the report March 1.

“As a contingency plan pending the hearing of this matter ... [the minister of mines] shall allow such security personnel full access to all the relevant premises thereat, including residential premises, full access to all the equipment, diamond ore and any other assets," Reuters cited Judge Joseph Mafusire as saying.

A full hearing on whether Mbada can resume mining will be held on Wednesday, the report added. Chidakwa said the government was planning to appeal, which would automatically suspend the previous day’s court ruling, according to Reuters.

The Diamond Mining Company (DMC), another of the companies ordered to stop operations in at Marange, plans to sue the government for alleged breach of contract, the news agency reported February 24.
Tags: diamonds, Marange, Mbada, Rapaport News, Zimbabwe
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