De Beers To Apply For Exploration Permits In Zimbabwe

One of the world’s leading diamond companies, De Beers, has expressed its 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 a chance 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?

More: Bloomberg