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Zimbabwe Output Soars in First Half
Jul 22, 2018 7:41 AM
By Rapaport News
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RAPAPORT... Zimbabwe’s state diamond producer recorded a 44% increase in
output in the first half of 2018 following investments in mining and processing
capacity.
The Zimbabwe Consolidated Diamond Company (ZCDC) recovered
1.6 million carats in the six months ending June 30, compared with 1.1 million
carats a year ago, a spokesperson for the miner told Rapaport News last
week. The company produced 594,000 carats in the same period of 2016.
“ZCDC is on track to achieve its targeted full-year
production of 3 million carats by the end of 2018,” the spokesperson said.
Most of the rough diamonds are from the Marange fields, the
nation’s largest and most important diamond resource. A large proportion of the
goods are still in ZCDC’s inventory while the company restructures its sales
and marketing operations. It conducted two test sales earlier this year, and
plans to hold another sale soon at which it will offer some of the accumulated
stock, the spokesperson added.
ZCDC expects to expand its annual production to 11 million
carats in 2025 by investing $400 million in the sector over the next five
years, it said last month.
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Tags:
Marange, mining, Production, Rapaport News, ZCDC, Zimbabwe, Zimbabwe Consolidated Diamond Company
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