Harare – Zimbabwe Consolidated Diamond Mining Company – a wholly State enterprise formed after the merger of seven miners in the country’s gem-rich Chiadzwa fields – says it has produced two million carats of diamonds from January to date, reflecting a 47 percent increase from 1.3 million carats during the same period last year. The miner attributed the rise in production of the precious commodity for the period to increased investments in the mining sector and processing capacity. In an interview with the State broadcaster, ZBC News, ZCDC Chief Executive Officer Dr Morris Mpofu said that increased exploration and fresh green field projects are therefore expected to result in overall diamond production reaching the targeted three million carats by year end. “We are really convinced of the efforts that we are doing to unlock value in the commodity such that we are also on course to achieve the desired results on the back of our strategic planning,” said Dr Mpofu. The state-owned diamond mining firm is mainly extracting conglomerate diamonds in Chiadzwa in eastern Zimbabwe while exploration for kimberlite diamonds has also started. The government is also formulating a new diamond policy to attract fresh capital and investment as well as ensuring communities around the diamond fields’ benefit from the resource by imposing a legal requirement for meaningful corporate social responsibility programmes. The country resumed diamond auction earlier this month, but attracted fewer international buyers than expected, according to the Minerals and Marketing Corporation of Zimbabwe. According to MMCZ the auction – the third to be conducted this year – attracted 32 buyers mainly from Asia, the Middle East and Africa. This year, Zimbabwe conducted two diamond auctions in February and April. - Equity Axis News