All income generated from diamond mining activity in Zimbabwe has been taken over, following a major cash-injection into a state-owned company.

The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has confirmed that $80m has been injected into Zimbabwe Consolidated Diamond Company, claiming that “the diamonds belong to the fiscus” in a time of decline in gem mining operations throughout the country.

Read more: http://www.miningglobal.com/investing/zimbabwe-government-assumes-control-diamond-sector

Zimbabwe government assumes control of diamond sector