Ishemunyoro Chingwere Business Reporter The Zimbabwe Consolidated Diamond Company is set to miss its annual target of 2 million carats after delays to the installation of its $15 million, 450-tonnes-per-hour conglomerate processing plant. The plant, which was due to take off in August, has been deferred by delays in supply, Zimra clearances, foreign currency constraints to pay suppliers as well as the shortage of appropriate steel in the country for civil works. However, the installation is now back on the rails with work now at an advanced stage. The first phase of crushing is now expected before the end of the year. The clearing challenges, which saw shipments being delayed have since been resolved after engagements between the taxman and ZCDC. "Crushing did not take off in August as had been planned due to delays in supply, clearances at Zimra, foreign currency constraints to pay suppliers, shortage of appropriate steel in the country for civil works," ZCDC chief executive officer Dr Moris Mpofu told The Herald Business recently.
But the good news is ZCDC has managed to de-risk on these bottlenecks and the project is back on course. Installation of the plant is now at an advanced stage and the first phase of crushing will commence this quarter.
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