Parliament says it is not pleased over what it termed a ‘mafia like hostile takeover’ of diamond mining ventures from investors by government through the Ministry of Mines and the formation of Zimbabwe Consolidated Diamonds Company (ZCDC) which they say is illegal.

The Parliamentary Portfolio Committee heard from investors how former president Robert Mugabe had reneged on his personal guarantee and commitment to protect their investments.

The Parliamentary Portfolio Committee on Mines and Energy is incensed by the alleged ‘mafia like hostile takeover’ of diamond mining companies among them Grandwell Holdings which formed Mbada Diamonds with government.

It emerged during a hearing attended by Grandwell Holdings chairman Mr David Kassel, Mbada Diamonds chairman Dr Robert Mhlanga, former ZMDC chairperson Mr Goodwills Masimirembwa, ZMDC company secretary and legal advisor Mr Tinashe Chiparo and Mbada Diamonds chief security officer Jabulani Mkoko, that stockpiles and assets worth millions of dollars were seized when the police were deployed in Marange as government took over to form the consolidated company in violation of court orders.

The committee chairperson Themba Mliswa took to task the ZMDC company secretary and legal advisor Mr Chiparo over the companies’ willful violation of court orders.

Former ZMDC chairperson Mr Masimirembwa said it was not possible for diamonds worth $15 billion to be siphoned as there was no geological survey done to ascertain the value of the deposits.

The committee resolved that Mr Masimirembwa and the companies all avail themselves this coming Friday when the Police Commissioner General will be quizzed on the activities done by the police when they were deployed in the fields during the takeover.