Walter Chidhakwa, Zimbabwe’s Minister of Mines & Mining Development, speaking before a parliamentary committee yesterday, revealed plans to consolidate all diamond mining operations in the country under one entity, with the state holding a 50% share in the company. 

This move is expected to affect seven miners in the Marange region, in many of which the government already owns a 50% stake. The one significant company which has a different ownership pattern is Rio Tinto, with a 78% share in Murowa Diamonds.

Chidhakwa also revealed that this plan was communicated to the concerned companies on Monday March 9th, in order that they may discuss it internally and the companies were asked to come to the Zimbabwe government by Monday March 16th.

He conveyed that the government was willing to buy out those companies which were not willing to be part of the one single entity envisaged by the government.

"Diamond mining is a very sensitive area which needs government to control it," Chidhakwa was quoted by media as saying to the parliamentary committee. "This is a regulatory matter and we have said to them the only way you can participate in diamond mining in Zimbabwe is by being in this company.”