Pecohub The Zimbabwe Consolidated Diamond Company (ZCDC) said on Thursday it expects to produce 5.7 million carats of diamonds this year. ZCDC board chair Munashe Shava said the ramped up production is notwithstanding the current drop in commodity prices on the global market.
“Commodity prices are currently depressed on the global market and as ZCDC we have come up with various initiatives to offset this worrisome development.
“We have ramped up production and this year we have set a target of 5.7 million carats and we see this target nearly doubling to 10 million carats in the coming year. Apart from ramping up production, we also adopted cost-cutting measures while at the same time optimising operations,” he said in a statement.
Meanwhile, the ZCDC is exhibiting at the 114th edition of the Zimbabwe Agricultural Show (ZAS) after a two-year hiatus. ZCDC corporate affairs executive Sugar Chagonda said the company is using the exhibition to engage with critical external stakeholders.
“As ZCDC we are so delighted to be showcasing our business operations as well as telling stakeholders and the public how diamonds are transforming the lives of ordinary people beyond Chiadzwa and surrounding communities. The outbreak of the Covid pandemic had resulted in us slowing down on our awareness activities such as this one but now we will once again scale up such initiatives,” he said.
The ZCDC was established in March 2016 after the government consolidated all the diamond mining concessions in Chiadzwa in Manicaland province. It has operations in the Chiadzwa and Chimanimani areas and is conducting extensive exploration and evaluation across the country in search of Kimberlite pipes that can be mined economically.
