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ZCDC created to enhance transparency in the diamond sector

ZCDC created to enhance transparency in the diamond sector

ZCDC

Government established the Zimbabwe Consolidated Diamond Company to foster transparency and growth in diamond sector, the company’s board member, Mr Peter Chimbodza has said.

Mr Chimbodza said this when he appeared before the Parliamentary Portfolio Committee on Mines and Mining Development Monday.
Mr Chimbodza, who is also the chairman of the Zimbabwe Mining Development Corporation appeared before the Committee to respond to issues around the ownership of ZCDC raised in the 2019 Auditor General’s report.

Mr Chimbodza said the ZCDC was established after Government decided to consolidate operations of entities that had claims in the Chiadzwa area in Manicaland.

He said although the ZCDC was registered under the Companies and Other Entities Act, it was wholly owned by Government and was expected to comply with regulations governing operations of public entities.

Before the consolidation, seven companies used to operate at Chiadzwa namely Mbada Diamonds, Anjin, Marange Resources, Gye Nyame, Kusena, Jinan and the Diamond Mining Company.

Anjin has since been allowed to resume operations independently.

 

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The Herald

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