Russian mining company Alrosa PSJC has discovered 22 new diamond deposits in Zimbabwe, according to the country's President Emmerson Mnangagwa.
Alrosa will only be allowed to work on two of the diamond deposits and the rest will be open to other investors, Zimbabwe's information ministry said, citing comments Mnangagwa made in New York over the weekend.
President Mnangagwa attended a business meeting on the sidelines of the United Nations General Assembly.
In 2019, Alrosa signed an agreement with the state-owned Zimbabwe Mining Development Corporation to jointly explore for gems in the country.
At the time, Alrosa said it would spend $12m to explore some of the 40 diamond concessions it owns in the country.
Many in the diamond industry refused to deal with Russian gems after the war with Ukraine and Alrosa was hit by US sanctions.
After returning to Zimbabwe on Tuesday, Mnangagwa said U.S. investors were interested in a number of sectors, including mining and agriculture.
According to the state-owned Zimbabwe Broadcasting Corporation, a group of investors will come to Zimbabwe next month to look for opportunities.
Russian companies explored and found it, and American investors swooped in.
