The five diamond mining companies: Mbada Diamonds, Anjin, Pure Dime, Marange Resources and Sino Zimbabwe will contribute $22m whilst ZESA will raise $14m.
This development comes after the Chiadzwa diamond miners attributed their failure to reach full potential to erratic power supplies from the embattled power utility.
Chinese bankrolled mining company, Anjin Investments’, power and equipment manager, Simeon Shambadzi, said all the miners had reached a common understanding by setting up their own uninterrupted power line connecting Mutare and Chiadzwa.
“Each miner requires about 15MVA of electricity every month but due to power shortages, miners are not getting that. When the power cable is laid, ZESA will reduce tariffs from the 11 cents per kilowatt that miners are currently paying,” he said.
Meanwhile Mbada and Marange Resources are the only two miners that the KPCS gave the green light to market their gems. Anjin, Pure Dime and Sino Zim are yet to meet the required governing diamond mining and marketing standards.
Post published in: Business