Wednesday, May 31, 2017

Concession area in accordance with a time resolution

Zimbabwean diamond company Zimbabwe Consolidated Diamond Company (ZCDC) lost to the cause of getting the possibility of extraction of diamonds from the country's High Court tailings concession Mbada Diamonds, reported in the local media. Last year Mbada Diamond miners and others were expelled from their concessions.
Earlier ZCDC not responsible for the corresponding order of the High Court, published in February.
According Zimbabwe Independent, belonging to Mbada concession is 150,000 tons of diamond ore ready for processing.
"In anticipation of an appeal filed by the first respondent in the case, the first and second defendant and those who act on their behalf, are hereby prohibited from collecting from the territory of the concession of the third defendant diamond-bearing ore mined third defendant, access to protected members of the third defendant security objects, or otherwise interfere in any way in the activities of the said concession area in accordance with a time resolution given by this court February 24, 2017 ", - stated in the acting Court SRI.
ZCDC was formed last year after the government refused to renew the license for production of diamond companies that have worked in Chiadzwa (Chiadzwa).
However Mbada Diamonds, Anjin and Jinan are suing the government, while the Marange Resources, Diamond Mining Company, Gye Nyame, Kusena and Rera Diamonds obeyed the decision.
Anjin and Jinan reached out of court agreement with Harare, while Mbada equipment has been sold for the payment of its debts.

1 comment:

Pearl Necklace said...

The Dominion Diamond Corporation, a Canadian diamond mining company reported that in the third quarter of 2016 fiscal year sales of diamonds fell 35% amid cautious trade a long festive Diwali season in India, the decline in production at the Ekati mine (Ekati), and also in view of falling prices diamond to 8%.
During the quarter, two diamonds of the auction was held. Dominion plans to hold three rough diamond auction in the fourth fiscal quarter of 2016.
Sales in the three months ended October 31 fell to $ 145 million, versus $ 222.3 million a year earlier. For the nine months ended October 31, sales fell to $ 542.4 million, versus $ 675.2 million in the same period last year.
During the third quarter, Dominion processed 888,000 tonnes of ore at Ekati project, although last year the figure for the third quarter amounted to 1.14 million tons. Production in the period amounted to 838 000 carats or 0.94 carats per ton of ore, compared to 975,000 carats or 0.85 carats per tonne in the same period last year.
The Dominion reported that in July the company changed the diamond processing circuit on the project. Now, the company increased its net processing ore from the south-western part of the mine Misery (Misery) and underground mine Koala (Koala).
Meanwhile, on October 31 left the company, there were about 1.9 million carats of diamonds available for sale, with an estimated market value of about $ 155 million.