March 26 (Bloomberg) -- Zimbabwe Mining and Development Corp. is extracting up to 60,000 carats a week from the country’s Chiadzwa Diamond Fields, the Zimbabwe Times said, citing Mining Minister Obert Mpofu.

The state-owned ZMDC needs new equipment in order to meet its target income of $600,000 a day from Chiadzwa, also known as the Marange fields, the U.S.-based online newspaper said, citing Mpofu in a speech to parliament in the capital, Harare.

To contact the reporter on this story: Brian Latham via the Johannesburg bureau at abolleurs@bloomberg.net.

Last Updated: March 26, 2009 04:14 EDT