RAPAPORT… Zimbabwe’s state-owned diamond miner has hired Mark Mabhudhu as CEO in an effort to help it achieve its goal of reaching $12 billion in revenue from its mining projects by 2023.
Mabhudhu will step down as executive director of the diamond division at Vast Resources to begin his new role at Zimbabwe Consolidated Diamond Company (ZCDC) immediately, Vast said Tuesday.
Vast is currently in talks with ZCDC to create a joint-venture diamond-mining project at Zimbabwe’s Chiadzwa Fields. Mabhudhu’s change of employment will not affect the finalization of the deal, Vast noted. The company has already identified a chief operating officer it will recruit to manage the project in place of Mabhudhu once the joint venture is signed.
“Whilst we are, of course, sad to see Mark leave, we are extremely excited that we will be able to continue to work with him in his new role within the diamond-mining sector in Zimbabwe,” said Andrew Prelea, CEO of Vast Resources. “We are confident that with Mark in his new role, the diamond-mining sector in Zimbabwe will be set for a new high.”
Image: Mark Mabhudhu. (Mark Mabhudhu/LinkedIn)
Zimbabwe State Diamond Miner Gets New CEO
The Bottom Line
- Mark Mabhudhu has been named CEO of Zimbabwe Consolidated Diamond Company (ZCDC) to drive the company toward a $12 billion revenue target by 2023.
- Mabhudhu will leave his role as executive director of Vast Resources’ diamond division to join ZCDC immediately.
- Vast Resources is negotiating a joint venture with ZCDC at the Chiadzwa Fields and will recruit a new COO to manage the project after Mabhudhu’s departure.
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