The Sunday Mail
President Emmerson Mnangagwa Tuesday witnessed the signing of a joint venture memorandum of understanding (MOU) between the Zimbabwe Consolidated Diamond Company (ZCDC) and Russian Federation mining giant Alrosa at Munhumutapa Building.
The signing of the MOU is a culmination of President Mnangagwa’s State visit to the Russian Federation in January.
Alrosa is a Russian group of diamond mining companies that specialise in exploration, mining, manufacture and sale of diamonds.
Alrosa is Russia’s leading diamond company accounting for 95 percent of that country’s diamond production and 30 percent of the global diamond extraction by volume and is reputed for cutting-edge technology for all process along the diamond value chain.
ZCDC chairman, Mr Killian Ukama, signed on behalf of ZCDC while Mr Sergey Ivanov signed on behalf of Alrosa.
Under the agreement, Alrosa will channel US$12 million for diamond exploration in Zimbabwe.
The joint venture will also enhance skills and technology transfer, as well as create income and empowerment opportunities in mining communities and Zimbabwe as a whole.
Speaking during the signing ceremony, President Mnangagwa said this agreement is result of the diamond policy approved by Government to mine diamonds in Zimbabwe.
Further, he said, the policy allows ZCDC to venture into partnerships with other players in the diamond industry.
Said President Mnangagwa: “Today I am greatly elated to witness the signing of the Memorandum of Understanding between ZCDC and Alrosa of the Russian Federation. This is yet another milestone achievement in the ‘Zimbabwe is Open for Business mantra’ as my administration accelerates programmes towards attainment of our national vision 2030.”
He said guided by the Transitional Stabilisation Programme, Government is doing everything it can to turn around the economic fortunes of Zimbabwe.
President Mnangagwa said he was impressed by the high level of technology and diamond facilities he witnessed when he visited Alrosa headquarters in Russia.
The US$12 million being released under this agreement, he said, will bring in more revenue to the country.
Speaking during the same occasion, Alrosa general manager, Mr Ivanov, hailed the agreement and promised that the world’s largest diamond producer will deliver.