Diversified mining company RioZim plans to extend its diamond exploration activity to an area in Chivi in the Masvingo Province of Zimbabwe, according to reports in the local media.

The Company, which already has mining operations in Murowa, has already begun clearing a 3 000-hectare plot where new drilling will soon be commissioned, the reports added.

RioZim Chief executive Bhekinkosi Nkomo was quoted as saying that a team of geologists were already at work in the area. It was also reported that RioZim is discussing the issue with legislators and government officials, and had made “a presentation to the Parliamentary Portfolio Committee on Mines and Energy” during the Committee’s recent visit to the Company’s site of operations at Murowa.

The Company has also requested for additional land and a review of ground rentals in support of the project, it was said.

It may be recalled that in February this year, Masvingo Provincial Affairs Minister Senator Josaya Hungwe told the press that diamonds had been discovered in the Sese area of Chivi. He stated that they were not alluvial diamonds, but from “kimberlite pipes rich in diamonds” that were believed to “fall under the same belt with diamond bearing pipes at Murowa Mine in neighbouring Zvishavane district”.

RioZim, which is also engaged in mining of gold and other minerals, as well as the energy sector, recently also announced its annual results. Media reports state that the Company posted an after tax profit of $8.1 million up from $2.5 million the prior year after revenue grew 36% to $88.9 million on the back of an average gold price of $1,255/oz when compared to $1,251/oz achieved in 2016.

Murowa Diamonds, the Group’s diamond mining entity, also rolled out a new mine plan, tripling the plant’s processing capacity and investment in the mine. It recorded a 69% growth in volumes and returned to profitability, thus posting a share of profit of $1.4 million compared to a loss of $267,000 in 2016.