zmdc dividends.jpgGovernment’s mining arm the Zimbabwe Mining Development Corporation (ZMDC) says it is optimistic of surpassing the current 70% capacity utilisation at its major mining units in 2011 owing to the on-going revamp of several of its mines.

 

The ZMDC, which in 2010 declared over US$30 million to its sole shareholder, government, is targeting maximum capacity utilisation at its major mines during the forthcoming year.

 

Commenting on the parastatal’s joint ventures in diamond mining, ZMDC Chairman, Goodwills Masimirembwa expressed optimism the on-going re-capitalisation exercise will boost monthly ore output currently hovering around 90 000 tonnes.

 

“Marange Resources which is under ZMDC has seen a remarkable increase in production at the joint ventures mining firms. We are optimistic we will surpass the current 70 % capacity in 2011. This is against the backdrop of the on-going revamp of our major mines,” Mr Masimirembwa said.

 

Mr. Masimirembwa also highlighted that there has been a slight increase in gems output since ZMDC’s Marange Resources 100 % takeover of the former joint venture with Carnadile.

 

ZMDC was established by government to carry mining activities on behalf of the state and operates several mining units, including Zimari Platinum.