Murowa explore more mineral deposits

31 Jan, 2016 - 00:01 0 Views
Murowa explore more mineral deposits Murowa Diamonds

The Sunday News

Murowa Diamonds

Murowa diamond mine complex

Munyaradzi Musiiwa, Midlands Correspondent
RioZim owned Murowa Diamonds will soon start exploring new mineral deposits and prospecting for more diamonds at their mining site after it emerged that deposits at the mine can only last six years.

Company spokesman Mr Lovemore Chimuka said the mine was set to inject more money towards exploring other deposits at the mine to increase the entity’s lifespan.

He said the mine was in the process of expanding and becoming the biggest diamond mining company in the country ahead of Chiadzwa Diamond Mines.

“We need to start exploring other mineral deposits at the mine because we want to expand and become the biggest producer of diamond in the country. We are in the process of expanding because our life span at the moment is six years. This exploration was last done 30 years ago,” he said.

In July last year, RioZim took over the running of Murowa from Rio Tinto and adopted a new strategic focus which included increasing revenue, reducing costs and exploring the various growth options for the business.

This plan requires an investment of $60 million which has already been committed by Murowa’s new owners RioZim.

Rio Zim has since acquired a new fleet of mining machinery which consists of 28 pieces of equipment (all CATERPILLAR) and excavators, dump trucks, dozers and graders.

The equipment will see Murowa increase waste stripping and the amount of ore exposed for processing in the future.

The investment in new mining equipment comes against a background of falling market prices for diamonds and shows the shareholders’ confidence in the company, the diamond industry and the country.

‘‘As part of our long term investment plan, this acquisition of the latest equipment will go a long way in ensuring that we are able to continue mining sustainably. In the past all equipment was owned and operated by mining contractors under a load and haul arrangement.

“Besides cutting costs, we believe the investment demonstrates the company’s long term commitment to continue mining at Mazvihwa for the foreseeable future and to further invest in the growth of the mining sector in Zimbabwe,’’ said Murowa Diamonds board chairman Mr Lovemore Chihota.

Murowa Diamonds, the only operating kimberlitic mine in the country is a leading diamond producer and a significant contributor to Zimbabwe’s economy.

The mine has three operating kimberlitic pipes namely K1, K2 and K3, which are mined by open cut methods. The resource was discovered in 1997 and the Company has been operating since 2004.

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