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Catoca set to explore diamonds in DRC, Zimbabwe

05 may 2012

Angola’s Catoca Mining Society (SMC) is planning to explore diamonds in DR Congo and Zimbabwe.
Angop news agency quoted the company’s general director Jose Ganga Jr as that the planned exploration would be done “in the coming years”.
He said this was part of the company’s strategic development programme for the next 10 years.
SMC was a joint venture between Angola’s Endiama, Odebrecht of Brazil, Daumonty Finance of Israel and Alrosa of  Russia.
Zimbabwe was an emerging diamond miner while DRC was one of the biggest diamond miners in Africa.
Diamond mining in Zimbabwe was currently taking place in the famous Marange, where a couple of foreign firms have established joint ventures with the state-owned Zimbabwe Mining Development Company (ZMDC).
The two other mines were Rio Tinto’s Murowa Diamonds and River Ranch.
Zimbabwe also recently found diamonds in Bikita and Chimanimani.
A joint venture between a Russian company OZGEO and the Development Trust of Zimbabwe was also set to go into full commercial diamond mining, in Chimanimani by the end of this year.
Global statistics compiled by the Kimberley Process showed that DRC produced 20.1 million carats of diamonds valued at about $174 million in 2010.
DRC recently said that an investment of $300 million was needed to revive the country’s diamond mining sector.
Diamond mining concessions in DRC’s south-central region were said to contain diamond reserves comprising some 328 million carats.

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