Hundreds Laid off at Zimbabwe Diamond Mines
July 15, 25
(IDEX Online) - Zimbabwe's state-controlled diamond miner has laid off hundreds of workers as part of cost-cutting measures aimed at keeping the company afloat.
There are conflicting reports over the actual number. Around 200 staff at the Zimbabwe Consolidated Diamond Company (ZCDC) have been retrenched, according to the Zimbabwe Independent news site.
Bloomberg News puts the figure at 400, citing an unnamed company representative.
And the Zimbabwe Diamond and Allied Mineral Workers Union (ZDAMWU) says up to 600 workers are being laid off, of whom 295 have already been retrenched.
A spokesman for ZCDC told the Zimbabwe Independent: "Diamond prices have gone down on the market. The company had to choose between closing and maintaining operations at a reduced rate whilst awaiting price recovery."
Justice Chinhema (pictured), general secretary of the ZDAMWU said: "Our members, hardworking mine workers in the diamond sector, are suffering a wave of layoffs, unpaid wages and deteriorating labour standards at the country's three diamond mining companies - ZCDC, Anjin Investments and Murowa Diamonds."
ZCDC was founded in 2016 with $80m from the government after seven privately-owned companies accused of plundering the Marange diamond fields were closed down.
Zimbabwe is the world's seventh biggest diamond producer with an output of 4.9m carats in 2023 and 5.3m carats in 2024 (the estimate was for 5.7m).
The ZCDC has said previously that it aims to increase production to 10m carats this year.