African Consolidated Resources (ACR), which holds the diamond mining rights to the Marange diamond fields in Zimbabwe, The Observer reported on Sunday. The Marange diamond fields were the center of attention for the brutal takeover actions of the Zimbabwean government – first driving out ACR and later attacking the local population and claiming the lives of some 200 people.

ACR is in tentative negotiations with Robert Mugabe's government about re-taking ownership of the field, according to the report.

The Aim-listed company acquired the Marange diamond fields mining rights in February 2006 but was evicted in October of that year. Following ACR's departure, local and migrant miners illegally mined the area.

ACR challenged the eviction and last week it won its case in the Zimbabwe high court. Justice Charles Hungwe ruled that state-owned Zimbabwe Mining Development Corporation must stop mining the fields and ordered the government to return ownership to ACR.

"Following the Group's success in the Zimbabwe High Court the Group remains committed to dialogue with the Zimbabwe Government, with a view to establishment of a joint venture which will operate for the benefit of both the Company and the people of Zimbabwe," ACR said in a statement.

"As soon as the joint venture achieves physical possession of the Claims its immediate priority will be the establishment of full security as soon as is practicable. Thereafter the Company hopes to make further announcements in respect of its intentions to establish a mutually beneficial operation as the situation develops."