Chronicle Editor
Oliver Kazunga, Senior Business Reporter
ALROSA Zimbabwe (Alrosa Zim), a joint venture between Russia’s leading diamond producer, Alrosa and the country’s State-owned miner, the Zimbabwe Consolidated Diamond Company (ZCDC), has started prospecting and preliminary exploration works for primary diamond deposits in Matabeleland region and Masvingo province.
Last year, ZCDC and Alrosa signed agreements to finalise the creation of a joint venture (JV) to prospect and explore diamond deposits locally.
The project is one of the many investments under the Second Republic that President Mnangagwa has endorsed to reignite the economy after close to two decades of stagnation.
Alrosa deputy chief executive officer Mr Vladimir Marchenko said in a statement that after securing special grants from the Ministry of Mines and Mining Development, Alrosa Zim had the environmental-impact assessment (EIA) approved by the Environmental Management Agency (EMA).
He said this paved way for prospecting and exploration in the Masvingo, Matabeleland South and Matabeleland North provinces.
“Following the signing of a JV with ZCDC to develop diamond deposits in Zimbabwe in December 2019, we are progressing well towards the initiation of full-scale prospecting works this year,” he said.
Mr Marchenko said Alrosa Zim’s geologists have started geochemical sampling, trenching and pitting in Malipati zone, Masvingo province with ground geophysical surveys expected to follow soon.
It is hoped that the same prospecting work, including airborne geophysical surveys, is set to be conducted in the Maitengwe area, Matabeleland South province towards the end of year.
Bulk sampling and drilling are set to begin in 2021.
“Being a member of Responsible Jewellery Council, the World Diamond Council and the Natural Diamond Council, Alrosa complies in full with all industry commitments on responsible business practices and its own corporate standards.
“Alrosa is committed to follow these principles strictly while working in Zimbabwe, minimising adverse environmental impact in all areas of activities and using mineral resources comprehensively and rationally,” he said.
Alrosa expects to invest US$12 million in Zimbabwe between this year and 2022.
Alrosa holds 70 percent of Alrosa Zimbabwe with ZCDC holding the balance.
The JV focuses on prospecting, exploration and mining of primary diamond deposits in Zimbabwe.
The signed JV agreements are expected to see an increase in diamond output and thrust the sector on the path to attaining the 10 million carats by 2023.
The agreement is also expected to mitigate constraints in the diamond sector such as limited market development, diversity and depth; and unlock a huge diamond sector potential, ensuring a significant contribution to the fiscus, foreign currency generation, job creation and economic development.
Last October, President Mnangagwa launched a plan for a US$12 billion mining economy by 2023.
Under the US$12 billion mining roadmap, gold is expected to contribute US$4 billion, platinum US$3 billion while chrome, iron, steel, diamonds and coal are projected to contribute US$1 billion.
Lithium is expected to contribute US$500 million while other minerals will contribute US$1,5 billion. — @okazunga.
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