De Beers to seek for prospecting licence in Zimbabwe

Image result for de beersOne of the world’s leading diamond companies, De Beers, has expressed interest in Zimbabwe after being granted 16 new licences in South African.

The company has been encouraged by political developments in Zimbabwe and is looking at an opportunity of expanding its $2 billion Venetia project, which is 20 kilometres from the Zimbabwe border.

Phillip Barton, the chief executive officer of De Beers’ South African unit said:

I’m excited about what I’m seeing in Zimbabwe. If we get licenses, we would have a further look.

We have Venetia mine that’s literally 20 kilometres from the Zimbabwe border.Why would it be just on the one side?

Source: Bloomberg

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