The Zimbabwe Mining Development Co-operation (ZMDC) is upbeat about the prospects for 2012 following an eventful year in which the country was allowed by the Kimberley Process Certification Scheme (KPCS) to sell its diamonds.
With the biggest obstacle to the trade of diamonds mined by indigenous firms having been removed after KP certification, the ZMDC is optimistic that 2012 will be a more positive year.
ZMDC Chairman, Mr Goodwills Masimirembwa said the quasi-government institution was able to meet all its obligations to the fiscus by way of paying dividends, royalties and taxes while the KPCS certification paved the way for it to concentrate on the core business of mining development.
â€œFor the greater part of the year, we were battling with the KPCS and to add on to that, we are still under sanctions but towards the end of the year we did exceptionally well in terms of improve sales and were able to sustain the payments that we made. For 2012, we have high spirits,â€ he said.
The ZMDC is also planning to venture into mining and beneficiation of platinum in 2012, with exploration work already at an advanced stage.
The country has the potential to double diamond output to about 3 million carats a month.
ZMDC wholly owns Marange Resources while it has joint ventures with companies mining in Marange including Mbada, Anjin Sino Zim and DMC.