ACR negotiating Marange deal

British mining firm African Consolidated Resources (ACR) said it is involved in ‘extensive dialogue’ with the Zimbabwean authorities to amicably resolve a long-running wrangle over ownership of the disputed Marange diamond fields.

Marange has courted negative international media since the Zimbabwean government controversially kicked out the United Kingdom-registered miner from the area soon after the discovery of diamonds in 2006.

ACR is locked in a long-running legal battle to regain control of the Marange fields – also known as Chiadzwa – from the government-run Zimbabwe Mining Development

Corporation which has already parcelled out ACR claims to several foreign companies, including South Africans, Russians and Chinese.

ACR executive chairman, Roy Tucker, said while the matter remains before the courts, ACR has been involved in extensive dialogue with the Zimbabwean government.

"If this is successful it will render the litigation process irrelevant," Tucker said in a notice to shareholders.

Zimbabwe's Mines Minister Obert Mpofu in March declared that the London-based mining firm would never mine diamonds at Marange as long as he was in charge of the ministry.

Mpofu accused ACR chief executive, Andrew Cranswick, of leading a campaign to block Zimbabwe's bid to officially sell diamonds from Chiadzwa.

Post published in: Zimbabwe News

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