Fallout from Zim Government’s Mine Closures Continues

March 01, 16 by David Brummer

(IDEX Online News) – Zimbabwe’s High Court has allowed one of the mining companies, recently barred from conducting its operations at the Marange diamond field, to assume control of its assets according to Reuters.

Mbada Diamonds, a 50/50 venture between the Zimbabwean government and Mauritius-registered Grandwell Holdings, won a reprieve yesterday (Monday), after the court ruled that the company should have full control of its assets.

The ministry of mines, led by Walter Chidhakwa, is set to appeal the decision through the Zimbabwean Attorney General. Chidhakwa was bullish, saying that the government stood behind its decision to bar the mining companies from conducting any operations at Maranage.

Reuters reported that Mbada wants to remove the ministry of mines from the concession and force the government to renew its mining license.

Zimbabwe’s official newspaper The Herald said that despite Chinese company Anjin being one of the banned mining operators, relations between the two countries were still strong. Chinese ambassador to the southern African state, Huang Ping, said that Zimbabwean law needed to be respected and the current impasse would not affect deals struck between the Asian superpower and the diamond producing country.

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