Half Billion Dollars Vanishes from Mbada Diamonds

Half a billion dollars in taxes and other payments from Mbada Diamonds to the government has disappeared amid deepening scandals in the disputed Marange fields, NOW DAILY can reveal.
Mbada Diamonds claimed in a statement that it had paid $424 million to the government in “taxes, dividends and government advances” and an additional $34 million to communities as part of its social responsibility programme.
However, Finance Minister Patrick Chinamasa recently told legislators that government had received nothing from the company and other army-linked diamond miners which invaded Marange following the ejection of African Consolidated Resources which bought the claims from De Beers in 2006.
Chinamasa’s predecessor at the finance ministry Tendai Biti said the company had remitted only $40 million from the expected hundreds of millions owed by Mbada.
Mbada chairman and President Robert Mugabe’s former helicopter pilot Retired Colonel Robert Mhlanga, claimed the money had been forwarded. Former Mines Minister Obert Mpofu confirmed receiving some money from Marange miners and said it was “somewhere” in his office.
Mpofu has since been stripped of his post and the diamond boards he appointed have been dissolved following complaints from Parliament.
Chinamasa has now directed that diamond taxes be channelled through the Zimbabwe Revenue Authority and not through the Zimbabwe Mining Development Corporation.
Mbada said it had reached gross revenue of more than $1 billion as at 31 January 2914.


One thought on “Half Billion Dollars Vanishes from Mbada Diamonds

  1. Pingback: Half Billion Dollars Vanishes from Mbada Diamonds | kingdomtv

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