Zim explores for gemstones in Karoi

Published: 26 July 2017

GOVERNMENT has dispatched a technical team to Karoi in Mashonaland West to explore gemstones, a Minerals Marketing Corporation of Zimbabwe (MMCZ) official has revealed.

"I want to touch briefly on the gemstones, the honourable minister (Mines deputy minister Fred Moyo) has already said that we have been directed that we look at this sub-sector seriously," MMCZ deputy general manager-marketing, Masimba Chandavengerwa said, while giving a presentation at the small scale miners' conference in Bulawayo last week.

"We know that we have let it down, but that's a thing of the past. Right now, as we speak, we have got a team that is in the Karoi area looking at these gemstones."

He said gemstones were an alternate investment sector, whose deposits are often small, but can be better exploited through small scale mining methods.

Gemstones occurrences in Zimbabwe are in Hurungwe, Mutoko, Mt Darwin, Zvishavane, Mutare, Rusape and Odzi.

"Value addition opportunities do not require huge capital outlays, making them a target for small scale operators," Chandavengerwa said.

"Sales can be done for as little as a single stone direct to end users."

The Beryl group of gemstones (emerald, aquamarine, heliodor and golden beryl) are the most-mined in Mberengwa and Hurungwe.

Chandavengerwa said the chrome ore price spike that started in November 2016 came to an abrupt end in March 2017.

He said in April, there was a stand-off between buyers and sellers, with hardly any trade taking place.

Chandavengerwa said the rise in chrome ore stocks in Chinese ports over the last four months or so (now estimated at two million tonnes, more than double what they were last November 2016), also contributed to the drop in chrome prices.

A further one million tonnes in Southern African ports contributed to the drop in prices.

"With the significant surplus in the market, it is estimated that it will take approximately six months for the supply demand balance to be restored," he said.
- zimpapers