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Ndlovu takes over at ZMDC

Ndlovu begins the new job this month as substantive general manager of ZMDC, a post which has been vacant since last year after the corporation sent home the then CEO and general manager Dominic Mubayiwa on fraud allegations.

Godwills Masimirembwa, ZMDC board chairman was unavailable for comment but close sources told Standardbusiness that Ndlovu would join ZMDC by the end of the week.

Ndlovu is also a board member of the Minerals Marketing Corporation of Zimbabwe (MMCZ).

An engineer, Ndlovu has 28 years of aviation experience, 15 of which are at executive management level.
His curriculum vitae includes a Masters in Business Studies degree and various other certified courses, including a Diploma in Aviation Management, Post-Graduate Diploma in Transport Economics, and BSc Aeronautical Engineering among others.

He is a member of the Royal Aeronautical Society and the Zimbabwe Institute of Engineers.

Ndlovu (pictured) has his work cut out for him as ZMDC is an active player on the diamonds-rich Chiadzwa fields.
ZMDC holds seven special grants in the diamond-rich Marange area.

It wholly owns Marange Resources. It has a 50-50 joint venture with Grandwell Holdings in Mbada diamonds; a 50-50 joint venture with Anhui Foreign Economic Construction Company Limited of China in Anjin Investments; and a 50-50 joint venture with Dubai’s Pure Diam in Diamond Mining Corporation.

ZMDC has also taken over Sino-Zim which recently stopped operations due to viability constraints.

In 2011, ZMDC remitted a dividend of US$139 976 553 to the Ministry of Mines and Mining Development up from US$61 932 751 remitted the previous year.

Government has identified diamonds as the saviour of the economy in the absence of lines of credit from multilateral financial institutions.
Revenue from diamonds is set to contribute US$600 million to this year’s national budget.

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