Zimbabwe Takes Over Chinese Diamond Company, Herald Reports

Jan. 7 (Bloomberg) -- The state-owned Zimbabwe Mining Development Corp. has taken control of Sino-Zimbabwe (Pvt) Ltd., a miner in Zimbabwe’s eastern Marange diamond fields, the Herald said, citing ZMDC Chairman Goodwills Masimirembwa.

The Chinese gem miner stopped operations last year, saying the area it had a license to mine lacked diamonds, the Harare-based, state-controlled Herald said on its website. ZMDC is recruiting other miners and carrying out further exploration to continue operations, the Herald quoted Masimirembwa as saying.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.