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Zimbabwe Orders Diamond Miners to Cease Operations

Feb 24, 2016 6:41 AM   By Rapaport News
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RAPAPORT... The Zimbabwean government has ordered mining companies in the country to cease operations after it did not renew their licenses, Bloomberg reported.

The newly created state-owned Zimbabwe Consolidated Diamond Company (ZCDC) will take over mining, Mines and Mining Development Minister Walter Chidakwa was cited by the report as saying February 22.

The move follows a refusal by Anjin Investments, the Diamond Mining Company, Jinan Mining, Kusena Diamonds, Marange Resources and Mbada Diamonds to accept the nationalization of their assets, Bloomberg cited Chidakwa as saying. These companies had not invested enough to continue production beyond alluvial excavation, the minister was cited as saying.
Tags: mining, Rapaport News, Walter Chidakwa, ZCDC, Zimbabwe, Zimbabwe Consolidated Diamond Company
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