Advertisements
Home » Power crisis hits diamond output

Power crisis hits diamond output

0 comments

ZIMBABWE’S diamond production declined by 22,1 percent to 1,03 million carats in the third quarter of 2023 as load shedding disrupted mining activities, a new report shows.
Zimbabwe has over the years experienced severe power shortages due to insufficient local generation and Zesa’s inability to import the deficit, which the state utility company attributes to an uneconomical tariff structure and defaults.
“Diamond potential was adversely affected by frequent power outages that resulted in loss of production time at some of the mining houses,” the Reserve Bank of Zimbabwe said in a recently published report.
One of the country’s major diamond mines, Murowa Diamond Mine, however, recorded a 12 percent decline in production during the quarter owing to machine breakdowns.

Advertisements

Murowa is one of the country’s major diamond mines.

Subscribe to The Financial Gazette

This is premium content. Subscribe to read article.

Subscribe Today

Gain access to all articles. Subscribe Today.
Advertisements

Related Posts

Leave a Comment

Advertisements

The Financial Gazette It is southern Africa’s leading business and political newspaper well known for its in-depth and authoritative reportage anchored on providing timely, accurate, fair and balanced news.

Newsletters

Subscribe to The Financial Gazette newsletter for financial & business news worth reading. Let's stay updated!

©2024 The Financial Gazette. A Media Company – All Right Reserved. Designed and Developed by Innovura
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More