The Sunday Mail
Sunday Mail Reporter
The Government is finalising the merging of three struggling diamond mining companies in Marange in a move aimed at streamlining operations and ensure accountability. Mines and Mining Development Minister Mr Walter Chidhakwa told The Sunday Mail last week that Marange Resources, Kusena diamonds and Gye Nyame would by early next year operate as one entity.
He said the mining firms had already completed their presentations on how they would operate as a single business.
“After noting that they were inconsistencies in these mining firms we approached Marange Resources and the two other mining firms to become one unit,” he said.
“They proposed that they would form a ‘portal system’ whereby they will become portal A, B and C. So under this proposal the mining firms are now looking at finishing the legal framework, they have finished doing the assessment of the labour force.
“The process is almost complete we are looking at February as the latest when the whole process will be complete.
“We should bear it in mind that these mining companies have creditors and they should come up with a solution that will not deter a combined force in the running of its operations.
“We are not dissolving any firm, but putting the solution of accountability under one roof and avoiding unnecessary leakages in our mining houses.”
In January, Gye Nyame Resources announced that it was defunct and was making efforts to engage a new investor after its previous investor, a Ghanaian national was implicated and alleged to be involved in underhand dealings.
Marange Resources, which is owned by government through its mining arm — the Zimbabwe Mining development Corporation (ZMDC) — stands accused of undervaluing mining equipment.
On the other hand, Kusena Diamonds is alleged to have failed to declare its royalties to Government.
