Has China become the largest diamond producer in the world, adding yet another record to the many it has already collected? Not quite but almost. 50%, with a JV, and not in China but in Zimbabwe. But the primacy is equally significant, and underlines the growing international projection of the Celestial Empire, which has more than 3 trillion dollars in reserves and uses them to buy lands, mines, companies, so as not to get trapped in American government bonds. This JV (as mentioned, 50/50) between the state-owned Zimbabwe Mining Development Corporation and the Chinese Anhui Foreign Economic Construction Company Limited has become, after only 18 months of operation, the world's largest diamond producer, exploiting the deposits of Marange, in eastern Zimbabwe.
The CEO of Anjin Investments, Munyaradzi Machacha said the mine has some of the most advanced diamond ore processing machinery in the world, and has already extracted 3 million carats of diamonds. But he is concerned about the sanctions against Zimbabwe, which have already hit two of the four companies excavating at Marange.
