Zimbabwe’s Minister of Mines and Mining Development Walter Chidhakwa announced to the press earlier this week that the consolidation of the mines in the Marange region will be completed by the end of this year, African media reported.

Chidhakwa reiterated that Mbada Diamonds, Anjin, Marange Resources, Gye Nyame, Kusena, Jinan and the Diamond Mining Company will be consolidated in one entity - the Zimbabwe Consolidated Diamond Company -- in which the state will hold a 50 per cent equity stake. The companies being merged to create the new entity will share the remainder 50 per cent amongst themselves, in a manner which is yet to be decided. 

The government has directed all companies slated to be merged to hold Extraordinary Generalbody Meetings (EGMs), at which they are required to present their audited results and take a decision on the merger. Chidhakwa said   the government, as a 50 per cent   stakeholder -- through the Zimbabwe Mining Development Corporation (ZMDC) – could call for such a meeting.

He alluded to some degree of “resistances” and “uncertainties”, but declared that the Zimbabwe government was committed to the policy and the process as planned.

"And therefore if the decision by a commercial entity is that we will not participate in this one entity then I think it will be time to bid each other farewell," New Zimbabwe quoted Chidhakwa as saying.