- Write by:
-
Tuesday, July 23, 2019 - 10:23:31 AM
-
1282 Visit
-
Print
Mining News Pro - The world’s top diamond producer by output, Alrosa (MCX:ALRS), and the Zimbabwe Consolidated Diamond Company have signed a joint venture agreement to develop diamond deposits in Zimbabwe.
According to Mining News Pro - Under the terms of the agreement between the state-owned companies, Alrosa will get a 70% controlling stake for the development of greenfield projects while ZCDC will get the remaining 30%.
Official information states that Russian specialists have been working in Zimbabwe for more than three months now
Starting in the fall of 2019, the JV will focus on geological exploration of greenfield deposits. Once there are some results from these initial activities, the miners will consider cooperating in diamond mining and independent sale of rough diamonds in external markets.
In a media statement, Alrosa and ZCDC said the joint venture will be able to work not only with the licenses ZCDC has today, particularly those in the Chimanimani region, but also in the entire country. “In case a new prospective area is discovered, the company will contact directly the Zimbabwe Ministry of Mines and Mining Development requesting a new license for this area,” the press release reads.
In December 2018, Alrosa established an affiliated company in the African country, Alrosa (Zimbabwe) Limited, for the implementation of projects in mineral prospecting, exploration and mining operations with a view to creating joint diamond-mining and other mining enterprises.
Short Link:
https://www.miningnews.ir/En/News/401739
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
Irish explorer Karelian Diamond Resources (AIM: KDR) said on Tuesday its search for precious stones in Finland has taken ...
An unusually warm winter in Canada this year has delayed the opening of a 400-kilometer (250-mile) ice road that is ...
Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on ...
Antwerp’s diamond dealers face long and costly delays following an EU ban on Russian-origin diamonds that took effect on ...
Debswana Diamond Company’s sales of rough diamonds fell 25.1% in 2023, data released by Botswana’s central bank late on ...
Russia’s sanctions-hit diamond producer Alrosa on Wednesday reported 2023 net profit of 85.18 billion roubles ($925 ...
The World Federation of Diamond Bourses (WFDB) issued an open letter on Wednesday calling on the G7 nations and the ...
Christo Wiese, South Africa’s billionaire retail king, is going back to the future.
No comments have been posted yet ...