ALROSA eyes deeper investment in Zimbabwe's diamon...

ALROSA eyes deeper investment in Zimbabwe's diamond fields

Philemon Jambaya

Zim Now Editor

The future of Zimbabwe's diamond mining sector gleams brighter as Russian behemoth ALROSA, a global leader in diamond exploration and extraction, signals its intent to significantly deepen its investment in the nation. Highlighting Zimbabwe's "brilliant investment climate," top executives from the mining firm recently engaged in fruitful discussions with President Emmerson Mnangagwa at State House this Wednesday, painting a vibrant picture of enhanced cooperation and future expansion.

The high-powered delegation, led by Chief Executive Officer and Chairman of the Executive Board, Mr. Pavel Marinychev, conveyed ALROSA's positive assessment of its ongoing partnership with the Zimbabwe Consolidated Diamond Company (ZCDC). Since forging their alliance in 2019, the two state-owned entities have been diligently exploring the nation's rich mineral potential across an impressive portfolio of 40 special grants and Exclusive Prospecting Orders (EPOs).

Speaking with palpable enthusiasm following the meeting, Marinychev lauded the conducive environment fostered by the Zimbabwean government. "We met with the President to present the achievements of our joint venture since its inception in 2019," he stated, his words resonating with optimism. "ALROSA and ZCDC, both state-owned entities, have been working closely together under this partnership to explore diamond and other mineral deposits across 40 special grants and EPOs."

The commitment to Zimbabwe's growth was further underscored by ALROSA's ambitious plans to potentially double its investment in the country before the year draws to a close. This bold move reflects the company's confidence in Zimbabwe's geological wealth and the significant contribution the mining sector continues to make to the nation's Gross Domestic Product.

Marinychev expressed profound gratitude to President Mnangagwa for the government's forward-thinking approach to attracting foreign investment. "We thank His Excellency for the brilliant investment climate made in here," he affirmed, adding with conviction, "We are ready to move forward and work in the Republic of Zimbabwe."

ALROSA's keen interest in expanding its footprint in Zimbabwe signals a powerful vote of confidence in the country's economic prospects and its commitment to fostering mutually beneficial partnerships. As the mining sector remains a cornerstone of Zimbabwe's economy, this potential surge in investment promises to inject further dynamism, create employment opportunities, and contribute significantly to national development.