Zimbabwe targets to jump diamond production
Production to jump 500% to be of 10mn cts by 2025 The Zimbabwe Consolidated Diamond Company (ZCDC) plans to increase production of diamonds by 488 percent to 10 million carats in the next five years from 1.7 million carats produced last year. To hit that target, Morris Mpofu, the ZCDC chief executive officer told delegates attending the on-going Zimbabwe National Chamber of Commerce (ZNCC) conference the company will set aside an investment envelope of about $400 million. The yellow metal target, he highlighted, will place Zimbabwe as one of the top five rough diamond producers in the world. “(Our) business strategy is part of corporate entrepreneurship, enterprise development and sustainable business growth to create the necessary mineable diamond resource and achieve diamond production levels of 10 million carats per year from 2022,” Mpofu said. “He added: “This will place Zimbabwe on the top five world rough diamond producers. This year, ZCDC has a strategic intent