MMCZ invites bidders for a diamond processing company

Zimbabwe’s active corporation in the business of developing new markets for Zimbabwean minerals, they Minerals Marketing Corporation of Zimbabwe (MMCZ) has gazetted an offer into a venture capital partnership to bidders willing to set up a diamond processing company.

MMCZ, is Zimbabwe’s leading corporation in mineral marketing and national resource accounting with the mission to maximize returns to all our stakeholders through efficient marketing services and national mineral resource accounting.

In its recent gazette, MMCZ plans to invest in a company that offers a return on investment within five years, according to a notice. The bids are closing on 13th of April.

“In line with the Corporation’s strategic initiatives towards increased value addition and foreign currency generation, MMCZ, wishes to provide venture capital to an identified partner for diamond processing.

The MMCZ now invites eligible Diamond Processing firms to indicate their interest in partnering with MMCZ in Diamond Processing in a Venture Capital Agreement. Interested consultants should provide information demonstrating that they have the required technical capabilities, facilities, qualifications and relevant experience to process diamonds,” reads the gazette.

According to ZIMSTAT, Zimbabwe’s exported diamonds worth US$141 million in 2020. The closing of international markets due to the pandemic had serious economic effects on less developed countries such as Zimbabwe which depends on exporting primary commodities such as diamonds for foreign currency generation.

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