Zimbabwe: Govt Wins Diamond Proceeds' War With Firms

5 August 2014

Government has started collecting its share of revenue from the Chiadzwa diamond proceeds at sale level rather than waiting for yearly dividends, amid indications that the State could have been prejudiced of millions of dollars from previous sales.The Zimbabwe Mining Development Corporation, Government's mining arm holds a 50 percent shareholding stake in each of the five companies at Chiadzwa -- Mbada Diamonds, Anjin Investments, Diamond Mining Company, Jinan and Kusena.

The other miner, Marange Resources, is wholly owned by Government.

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