Galp completes sale of 10% stake In Area 4 Mozambique to ADNOC for $881 mln
Zimbabwe tells diamond mining companies near Mozambique border to cease operations
5:12 CAT | 22 Feb 2016
Reuters / Diamonds are seen during an exhibition in Gaborone, Botswana, November 23, 2015
Diamond mining companies in Zimbabwe’s Marange fields are to stop their operations immediately because their licences have expired, the country’s mines minister said on Monday.
The diamond fields, located in the eastern part of the country close to the Mozambican border, are mined by nine joint-venture companies, each with a 50 percent stake while the government holds the other half.
“Since they no longer hold any titles, these companies were notified this morning to cease all mining activities with immediate effect,” Walter Chidhakwa told reporters and executives from the affected mines.
The new state-owned Zimbabwe Consolidated Diamond Company will now hold all the diamond claims in the country, Chidhakwa said, adding that the move was an imperative of national economic development.
Source: Reuters
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