Zim’s ZCDC Sells Diamonds Worth $21.5 Million Since March

Finance and Trade
24/06/2016 13:37

The Zimbabwe Consolidated Diamond Company (ZCDC) has sold about 513,000 carats of rough goods valued at about $21.5 million since March this year after taking over two diamond operations - Marange Resources and the Diamond Mining Company. A parliamentary committee heard that ZCDC made total profits of $6.7 million from the $21.5 million of sales.

"So far, from the profit that is coming from the two operations that are in production, we are capitalizing most of the companies,” said ZCDC acting CEO Dr Ridge Nyashanu. “We have brought in some equipment including X-ray technology that will improve our diamond recovery. Another X-ray machine is being purchased as well. It is my understanding that $1 million has been remitted to the Treasury [in royalties]," said Dr Nyashanu.