RAPAPORT… Production of rough diamonds at the Murowa mine in Zimbabwe declined 15% in 2020 amid a move to lower-grade resources.
Output came to 579,000 carats for the full year, compared with 685,000 carats in 2019, owner RioZim said last week. The drop in production was primarily due to the processing of lower-grade ore from the K2 portion of the mine following the depletion of the site’s higher-grade K1 ore the previous year, the miner noted.
Total revenue at RioZim, which also owns gold, chrome and energy assets, rose to ZWD $3.14 billion ($8.7 million), versus ZWD 577.1 million ($1.6 million) a year earlier. The company, which separated from Rio Tinto in 2004, reported profit of ZWD 452.7 million ($1.3 million) compared with a net loss of ZWD 581.4 million ($1.6 million) in 2019.
Image: The Murowa diamond mine. (RioZim/Murowa)
Zimbabwe’s Murowa Mine Sees Output Fall
The Bottom Line
- Murowa mine’s rough diamond production fell to 579,000 carats in 2020 from 685,000 carats in 2019.
- The decline resulted from shifting to lower-grade K2 ore after depleting higher-grade K1 ore.
- RioZim’s total revenue increased to $8.7 million in 2020, with a profit of $1.3 million, reversing a loss from 2019.
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