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RioZim’s Murowa Q1 diamond output slides 61%

20 may 2020
Image credit: Murowa Diamonds

Murowa Diamonds’ first quarter output for the year 2020 eased by 61% compared to the same period, a year earlier, according to the local media citing RioZim.
The Chronicle report could not provide the amount of carats produced during the period under review.
RioZim was yet to post the quarterly results on its website.
“The lower volumes were attributed to inconsistent power supply during the period. There have been no significant disruptions to production as a result of the Covid-19 pandemic across the group,” RioZim was quoted as saying.
“However, the threat to the group’s raw material supply chain, which is predominantly imports, remains a key business risk as stringent cross border controls continue to be enforced in various countries.”
Murowa recorded a 7% regression in production to 685 000 carats in 2019 from 740 244 carats produced in the comparative period in 2018.
The low production was attributed to intermittent power supply which resulted in lost production running time.
Despite the low volumes the diamond mine contributed positively to the group with a share of profit of ZWL$22.9 million.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished