Zimbabwe Consolidated Diamond Company (ZCDC), recently started its activity after the government withdrew the licenses of companies that mine diamonds in Marange (Marange), fired CEO Mark Mabhudu (Mark Mabhudu) and Chief Financial Officer Stuart Musekivu (Stewart Musekiwa).
Standard newspaper reports that top managers were fired because of an incorrect assessment of the proceeds from the sale of diamonds.
"The official position is that the two failed a polygraph test, but it's just an excuse they had been dismissed because of corporate governance issues have been carried out." - said an unnamed official of the Ministry of Mines of Zimbabwe.
Minister of Mines of Zimbabwe Chidakva Walter (Walter Chidhakwa) said that the country expects to receive $ 25-30 billion from diamond sales during the next decade after the establishment of ZCDC.
However, an unnamed source said that last month ZCDC managed to get only 120 000 carats of low quality diamonds, which were sold at the May tender for only $ 5.5 million.
Of the money from the sale of diamond auction, only $ 1.1 million were received in budget, and the rest were sent to the payment of royalties, management fees, administration, and marketing costs.
The official said the acting chairman ZCDC and permanent secretary of the Ministry of Mines Professor Francis Gudianga (Francis Gudyanga) is responsible for protecting Mabhudu after the failed action of Marange Resources.
"Everyone was surprised that Gudianga appointed Mabhudu and other top managers of Marange Resources as ZCDC bosses, however, these people are not able to manage the company, and it was the worst in the region for diamond mining." - said the official.
"Appointments ZCDC were intended only to provide jobs for friends and family, but now the country is paying for it a price probably Gudianga realized that these officials will cost him his job and decided to fire them.", - concluded the source.
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