Harare: Zimbabwe has paid $5.4 million to Russian led miner DTZ-OZGEO to take over its diamond claims in Chimanimani.
DTZ-OZGEO was said to have not opposed the country’s move to streamline operations in Marange and Chimanimani last year unlike the Chinese and Mbada who went to the court to oppose the move.
Daily News reports that the government through the Zimbabwe Consolidated Diamond Company (ZCDC) was “poised for greater things” following the Russian settlement and the withdrawal of litigations” by OFECC, which owns Anjin and Jinan.
Mines minister Walter Chidhakwa told Rough & Polished last February that Harare had started negotiations with DTZ-OZGEO over the takeover.
“I must say that the relationship between Russia and Zimbabwe is a very long-standing relationship and I did say to them that I was very impressed by the fact that as we took national decisions the Russians did not oppose us,” he said at the time.
“They said we will accept but please do take into account that you are the ones who invited us and so we are again finalising an agreement with the Russians were will take over their equipment and will pay them slowly over a period of time.”
Meanwhile, Daily News reports that ZCDC had received an $8 million capital injection from the central bank, which was expected to boost production beyond the current 200 000 carats per month.
