Loki is a project that is 100% owned North Arrow and consists of Loki-South areas (Loki South) and Loki-East (Loki East), accommodates diamondiferous kimberlite cluster Monument (Monument), and is located in the immediate vicinity of the diamond mines Diavik (Diavik) and Ekati (Ekati). The Company has identified several potential target kimberlites on the southern lobe of Loki and conducted a review of geophysical data and soil samples for the eastern part. North Arrow has identified a number of priority objectives, directly adjacent to kimberlite cluster Monument.
North Arrow has recently received permission to conduct exploration drilling on Loki, which allows the company to drill the object.
The company also reported that exploration has begun in the project LDG, the joint venture North Arrow and Dominion Diamond Corporation. Dominion is the project operator and began exploration program costing $ 2.8 million, consisting of a ground of aeromagnetic geophysical research and exploration drilling. Current work is focused on ground geophysical research priority goals in the run-up rigs in the spring test.
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Zimbabwe's government has proposed to consider the possibility of placing some of the shares of the new consolidated diamond company on the Zimbabwe Stock Exchange (Zimbabwe Stock Exchange, ZSE), to stop the illegal leakage of diamonds abroad and ensure transparency and accountability of operations.
Edition NewsDay quoted the coordinator of the Coalition of Civil Society of the Kimberley Process (Kimberley Process Civil Society Coalition) in Zimbabwe Shamizo MOTC (Shamiso Mtisi), who said at the seminar with the participation of members of the Parliament that the official Harare should be done by the management of public and allow investors who are familiar with the situation, to participate in it.
"Combined or consolidated mining companies have to provide trading in shares of the new corporation on the ZSE This will be an important step towards ensuring transparency, accountability and good corporate governance diamond companies -. Believes Mtis -. It will also attract professional managers and investment, where Zimbabwe needs so. according to the rules of the stock exchange, companies are required to publish their accounts. This means that they will become public companies, which will be able to invest as ordinary Zimbabweans, and other investors. "
MOTC, however, noted that the placement of shares on the stock exchange will mean a reduction in the state's share in the total company, since according to the rules of the stock exchange, one entity can not own more than 35% of the company, are traded on this exchange.
MOTC also said that the union of diamond companies and mines in the country to attract stable and experienced local, regional and international mining companies that follow the principles of traceability stones. However, this will only be possible with the support of the government, he said.
Meanwhile, Newsday reports that some lawmakers have expressed concern about the leading role of the Zimbabwe Mining Development Corporation in the upcoming merger, as previously, the company no longer cope with the problem of absorption of various mining companies.
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