Russia’s Alrosa kicks off diamond exploration in Zimbabwe
Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output, has begun prospecting and preliminary exploration works for deposits in Zimbabwe through it’sjoint venture with the Zimbabwe Consolidated Diamond Company (ZCDC). The move is a welcome boost to the southern African nation’s attempts to expand diamond mining revenues. Zimbabwe first began allowing foreign companies to dig up precious stones in 2018, opening the door to private investors. Mines minister Winston Chitando said at the time that his office was considering letting foreigners hold majority stakes in local operations on the condition that…
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