ALROSA AND ZCDC AGREE TO EXPLORE FOR DIAMONDS IN ZIMBABWE
Russian mining giant Alrosa and Zimbabwe’s national mining company, the Zimbabwe Consolidated Diamond Company (ZCDC), have signed a number of agreements to create “a joint venture for prospect and exploration works for primary diamond deposits” in Zimbabwe , according to a press release.
The agreements, including a shareholder agreement and a JV establishment agreement, state that Alrosa owns 70% of Alrosa (Zimbabwe) Limited JV, while the ZCDC gets 30%.
Alrosa’s CEO Sergey Ivanov, commented: “[…] Signing [the] current agreements allows us to form the company’s administration and to initiate procedures required to get necessary permissions and licenses. Getting authorization and first prospecting special grants, JV will be ready to operate […]”.