Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Neighbour South Africa’s influential Business Day reports as Zimbabwe’s shaky unity government inches ahead with extensive electoral reforms ahead of fresh elections now expected next year, the prospect of the country’s army seizing power looms large.
In recent weeks, the military’s top brass has taken on a visible role in the country’s political affairs and has been brazenly opposed to security sector reforms. The military seized control of Zimbabwe’s rich diamond fields in Chiadzwa in 2006 and most observers believe an international ban on these gems are being widely flouted.
BusinessDay reports the military, alarmed by growing factionalism, and persistent rumours of President Robert Mugabe’s failing health, has coalesced around army commander Constantine Chiwenga to deal with the latest “threats” to the status quo.
Last week MINING.com reported on Zimbabwe’s threat to take legal action against diamond giant De Beers over allegations it smuggled hundreds of millions of dollars of gems from the country’s rich diamond fields in Chiadzwa. Diamonds were found by villagers in Chiadzwa in 2006, leading to a frenzied diamond rush that was eventually crushed by the army.
MINING.com reported at the end of June the seemingly unilateral decision by the chairman of the international diamond trade watchdog to allow Zimbabwe to resume diamond exports has been rejected by among others the United States, Canada and Israel.
In June MINING.com reported Zimbabwe is set to become the world’s leading producer, with an expected volume of 40m carats per year worth some $2bn annually from the rich deposits in Chiadzwa and Marange.
The troubled country, emerging from years of hyperinflation and political turmoil, is however barred from selling diamonds because of alleged human rights violations and has built up a stockpile worth $4bn–$5bn.
