Supply for the year, however, is expected to increase by 9% to 7.91 million ounces, owing to the recovery in the country’s output following strikes in 2014, as well as increased platinum recycling.
Zimbabwe Mining News
The country had introduced the levy on raw platinum exports in January, aiming to encourage local processing of the metal.
Negotiations between the parties, still at an early stage, are said to have generated solid interest from both sides.
The company, however, said it remained committed to the diamond industry.
RioZim Ltd., which mines gold, diamonds and coal in Zimbabwe, wants to work with state-owned power utilities in South Africa and Namibia to build a 1,400-megawatt electricity plant near its Sengwa coal fields.
The measure aims to stimulate production and attract investment in the sector, amid low international prices for the coveted gems.
Zimbabwe’s diamond industry will soon be controlled by one firm as the country’s major diamond mining companies have agreed to merge.
Zimbabwe National Army has won a bitter struggle with the Ministry of Mines and Mining Development for the control of a lucrative $4.8-billion platinum mine.
African Consolidated Resources (ACR) will commmission its first gold mine in Zimbabwe in the second half of next year as the company steps up efforts to consolidate its presence in the country's gold sector.
The investment will allow for a fourth pipe to be developed at the site, with production expected to start by 2018.
As part of a set of planned measures to stimulate production and attract investment in the sector.
The United States is wagging its finger at Zimbabwe, threatening to ratchet up sanctions over a plan to develop a platinum mine involving Russian and Zimbabwean companies.
In the 30 years Rio Tinto's Argyle Pink Diamonds have been tendering the rare gems, only 13 red diamonds have been brought in.
The government wants to consolidate the diamond mining companies currently operating in Marange from six down to two or possibly one.
The world's largest diamond miner by market value said it will adopt a more flexible sales approach.
Sector now delivering some of the healthiest returns for many of the world’s biggest miners, including Rio Tinto and Anglo American.
It has become economically unviable for miners to dig any deeper for the precious stones.
Two of the seven miners at Marange, Anjin and Jinan, will be shutting down.
Firm says deal means faster gold production at flagship Pickstone project.
The newly elected president of the World Diamond Council is not in favour of expanding the scope of the Kimberley Process scheme beyond conflict zones.
Despite billions spent on exploration, only around 30 significant diamond mines are currently in production.
Production of rough diamonds expected to be worth $19.6 billion by 2018.
Other two Canadian jurisdictions —New Brunswick and Newfoundland and Labrador— also made it to the top 10 worldwide. Kyrgyzstan and Venezuela, named the two countries mining enthusiasts should stay away from.
Marange is currently ranked the largest diamond producing deposit on earth, but its days seem to be counted.
Companies met deadline to submit concrete plans for major refinery.