Low-grade Diamonds Causing Problems for Marange-focused Anjin

Reuters reported that Anjin Investments (Pvt) Ltd., the biggest miner in Zimbabwe’s Marange diamond fields, said Friday that it is facing financial problems due to a decline in the quality of the diamonds at its mine.

As quoted in the market news:

‘Our resources have dwindled, our revenues are down. The ore we are mining we are recovering low-grade diamonds, which are not fetching much on the market,’ Anjin board member Munyaradzi Machacha told a parliamentary committee.

‘Right now the company is in the survival mode. We are really in serious financial problems. Our primary objective at the moment is to make sure the company survives.’

Click here to read the full Reuters report.