Diamond output surges 62 percent

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ZIMBABWE’S diamond production increased by 62,2 percent to 1,52 million carats in the fourth quarter of 2022, from 942 000 carats produced in the fourth quarter of 2021, a new report shows.
The southern African country is one of the major diamond producers in Africa.

“The increase in output of diamonds was largely due to the scaling up of production across all the mining houses, driven by investments in mining and processing capacity, as well as efficient plant and machinery,” the Reserve Bank of Zimbabwe said in the report.
According to estimates, the country has diamond reserves of more than 800 million carats.
Zimbabwe’s diamond production has been on the rise in recent years, with the country producing 3,2 million carats in 2019, up from 2,8 million carats in 2018.
The majority of Zimbabwe’s diamond production comes from the Marange fields, which are located in the eastern part of the country. The Marange fields were discovered in 2006 and have since become one of the largest diamond-producing areas in the world.
Zimbabwe’s diamond industry has faced several challenges over the years, including allegations of human rights abuses and corruption.
In response to these issues, Zimbabwe established a new diamond policy in 2019, aimed at promoting transparency and accountability in the sector.
Despite these challenges, the country’s diamond industry remains an important source of revenue.
The government has set a target to produce 10 million carats of diamonds per year by 2023.
As part of the government’s target of a US$12 billion mining industry by the end of this year, the gems economy is supposed to reach US$1 billion.
According to the planned mining roadmap, gold is anticipated to provide US$4 billion, platinum US$3 billion, while coal, iron, steel, and chrome would each contribute US$1 billion.
In 2021, the country’s mineral exports reached US$5,7 billion, a huge leap from US$3,2 billion recorded in 2022.
The four businesses with permits to mine diamonds in Zimbabwe are the Zimbabwe Consolidated Diamond Company, Anjin, Murowa, and Russian-owned Alrosa.
Botswana Diamonds (BOD), an exploration and mining development company that holds licences in Botswana and South Africa, recently said it is in discussions with Zimbabwean authorities about entering the country’s diamond sector.
BOD is focused on short-term production targets at Marange and advanced kimberlite pipe projects elsewhere, in partnership with Vast Resources.
The two companies would be exchanging past exploration information and forming a special-purpose vehicle to jointly develop the diamond potential of Zimbabwe.
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