Zimbabwe joint venture starts prospecting for diamonds

ALROSA (Zimbabwe) Limited (ALROSA Zim), a joint venture between ALROSA and Zimbabwe Consolidated Diamond Company (ZCDC), starts prospecting and preliminary exploration works for primary diamond deposits.

ALROSA is a Russian partially state-owned diamond mining company, claiming it is the leader of the world diamond mining industry. ALROSA Group operates across nine countries and ten regions of Russia.

After getting Special Grants from the Ministry of Mines and Mining Development, ALROSA Zim has the Environmental Impact Assessment (EIA) approved by the Environmental Management Agency (EMA) and is set to commence prospecting and exploration in Masvingo, Matebeleland South and Matebeleland North provinces of the Republic of Zimbabwe.

In July 2020, ALROSA Zim’s geologists to start geochemical sampling, trenching and pitting in Malipati zone, with ground geophysical surveys to follow. Towards the end of year, the same prospecting operations, including airborne geophysical surveys, are to be conducted in the Maitengwe area.

Bulk sampling and drilling to commence in 2021.

“Following the signing of a joint venture agreement with ZCDC to develop diamond deposits in Zimbabwe in December 2019, we are progressing well towards the initiation of the full-scale prospecting works this year”, said Vladimir Marchenko, ALROSA Deputy CEO.

“Being a member of Responsible Jewellery Council, World Diamond Council and Natural Diamond Council, ALROSA complies in full with all industry commitments on responsible business practices and its own corporate standards. ALROSA is committed to follow these principles strictly while working in the Republic of Zimbabwe, minimizing adverse environmental impact in all areas of activities and using mineral resources comprehensively and rationally”, said Marchenko.

ALROSA’s investments in Zimbabwe for 2020-2022 are expected to reach $12 million.

According to the shareholder agreement and a JV establishment agreement, ALROSA has 70% of ALROSA (Zimbabwe) Limited JV, while Zimbabwean state-owned diamond mining company’s share is 30%. The joint venture focuses on prospecting, exploration and, in case of success, mining of primary diamond deposits in the Republic of Zimbabwe.

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