{"id":58397,"date":"2022-05-01T19:57:50","date_gmt":"2022-05-01T17:57:50","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields"},"modified":"2022-05-01T22:12:35","modified_gmt":"2022-05-01T20:12:35","slug":"british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields","title":{"rendered":"British Diamond Mining Company Hopeful It Will Be Readmitted Into Marange Fields"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>London-listed mining firm, Vast Resources is optimistic that it will be re-admitted into the Marange diamond fields through a long-overdue partnership with the Zimbabwe Consolidated Diamond Company (ZCDC).<\/p>\n

An initial investigation supported by the Information for Development Trust (IDT) \u2014 a non-profit making organisation examining bad governance \u2014 indicated that the government had shelved the deal.<\/p>\n

The British investor partnered with Chiadzwa Community Company (CCC) formerly known as Chiadzwa Mineral Resources (CMR) to form Katanga Mining which was expected to have sealed the deal with ZCDC not later than October 18 2019.<\/p>\n

However, it has emerged the government had subsequently put the deal on hold.<\/p>\n

Russia\u2019s Alrosa and Chinese\u2019s Anjin Investment \u2014 whose investments were announced more or less the same period as Vast \u2014were long given the green light.<\/p>\n

This has raised questions about the new dispensation\u2019s sincerity in engaging British investors.<\/p>\n

Vast Resources chief executive officer Andrew Prelea said engagements with ZCDC and the Mines ministry were ongoing. He said:<\/p>\n

As we are a publicly listed company, I\u2019m not at liberty to make comment that is not in the public domain.<\/p>\n

We can say that we have maintained dialogue with both the ZCDC and the ministry of Mines and still wish to work in Zimbabwe.<\/p>\n

The Group is using its subsidiary \u2014 Botswana Diamonds to financially support and offset Katanga\u2019s operational expenses.<\/p>\n

Botswana Diamonds indicated that to date, the Group incurred expenditure of \u00a358 815 (US$77 961) on exploring for new licenses in Zimbabwe (which is yet to be granted) and \u00a311 203 miscellaneous costs.<\/p>\n

Previously, Vast disposed of its gold mining venture \u2013 Pickstone-Peereless Gold Mining Company (Pvt) Ltd \u2014 after it accrued a US$40 million debt.<\/p>\n

A Commodity Outlook 2022 report by the Chamber of Mines released in February, indicates that:<\/p>\n

Centre for Natural Resources Governance (CNRG) executive director, Farai Maguwu, criticised President Emmerson Mnangagwa\u2019s administration for frustrating potential investors with the capacity to complement efforts to meet or surpass its 2022 diamond annual targets.<\/p>\n

He further that the deal is not sailing through mainly because the interests of the ruling elite have not been secured adding that if Vast \u201cpay the corruption fees to the right people, the deal will be fast-tracked.\u201d<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. London-listed mining firm, Vast Resources is optimistic that it will be re-admitted into the Marange diamond fields through a long-overdue partnership with the Zimbabwe Consolidated Diamond Company (ZCDC). An initial investigation supported by the Information for Development Trust (IDT) \u2014 a non-profit making organisation examining bad governance \u2014 indicated that the government […]<\/p>\n","protected":false},"author":84,"featured_media":58396,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,9689,19],"class_list":{"0":"post-58397","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-vast-resources","14":"tag-zimbabwe"},"yoast_head":"\nBritish Diamond Mining Company Hopeful It Will Be Readmitted Into Marange Fields - zimbabwe<\/title>\n<meta name=\"description\" content=\"London-listed mining firm, Vast Resources is optimistic that it will be re-admitted into the Marange diamond fields thro ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"British Diamond Mining Company Hopeful It Will Be Readmitted Into Marange Fields\" \/>\n<meta property=\"og:description\" content=\"London-listed mining firm, Vast Resources is optimistic that it will be re-admitted into the Marange diamond fields thro ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-01T17:57:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-01T20:12:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"526\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/british-diamond-mining-company-hopeful-it-will-be-readmitted-into-marange-fields\",\"name\":\"British Diamond Mining Company Hopeful It Will Be Readmitted Into Marange Fields - 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