Civil Society Urges Zimbabwe to Float Diamond Company on ZSE

Mining and Exploration
26/11/2015 15:34

Kimberley Process Civil Society Coalition in Zimbabwe co-ordinator Shamiso Mtisi urged the government to consider registering the new consolidated diamond mining company on the Zimbabwe Stock Exchange (ZSE) and cede some of its shares in a bid to plug leakages of the precious mineral. The Zim government had planned to complete the consolidation process of diamond mines in the country’s Marange area into one new company by March, in which would a have a 50% equity stake. Mtisi said the government should open up the process and allow other knowledgeable investors to come on board. “The merged or consolidated diamond mining companies should work towards registering on the ZSE. This will be an important step for diamond mining companies to promote transparency, accountability and good corporate governance,” he said. Floating on the ZSE would require the companies company to publish its results, meaning that they will become public outfits, in which Zimbabweans and others can invest.