HomeNewsSanctions will not hurt operations — Marange Resources

Sanctions will not hurt operations — Marange Resources

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Diamond mining firm Marange Resources says the imposition of sanctions by the United States administration will not hurt its operations.

The company’s mine manager Munashe Shava yesterday told journalist during a media tour that it was a government issue, but “it has always been and will not affect our operations”.

Shava said they were still validating the mine’s lifespan, but said: “We will be here for a long time.”
He said the firm plans to ensure the community not only benefit from employment opportunities, but also from training skills.

Shava would not disclose number of carats produced per day. “It’s classified information,” he said.

Marange Resources believe their biggest capital is their workforce. The current staff complement is 550, but it should rise to 670 next year.

“In 2012 there will be a fully-fledged department to develop current skills levels.”

One of the biggest challenges facing the firm is power supply, resource evaluation and marketing of the diamonds.

Anjin China is a diamond mining company in Marange which was not slapped with sanctions.

“We don’t deserve sanctions and neither do the other companies placed under sanctions by the US,” Munyaradzi Machacha, Anjin China director said.

The United States this week sanctioned State-owned Marange Resources and Mbada Diamonds.

The two were added to a US Treasury Department list targeting entities linked to President Robert Mugabe.

The sanctions mean the companies are blocked from doing business with the US.

Zimbabwe is said to hold at least 25% of the world’s diamonds.

Mbada Diamonds and Marange Resources both operate joint ventures with the Zimbabwe Mining Development Corporation (ZMDC), a State-owned company and private investors. ZMDC was already on the sanctions list.

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