Anjin Investments Suspends Diamond Production and Terminates Contracts Amid Crushing Global Market Downturn

Anjin Investments suspends diamond production in Zimbabwe as global prices crash. Learn about the impact of market volatility and synthetic stones on mining.

By: AXL Media

Published: Mar 21, 2026, 5:26 AM EDT

Source: The information in this article was sourced from Bulawayo24.com

The Suspension of Operations in Chiadzwa

Anjin Investments, a major player in Zimbabwe’s diamond sector, has officially halted production and transitioned its mining site to a non-production status. This strategic retreat, characterized as care and maintenance, is a direct response to a deteriorating financial environment that has made active mining increasingly unviable. According to internal communications, the company has struggled to generate enough capital to sustain day to day operations, leading to the difficult decision to mothball the facility. This suspension represents a significant blow to the local mining industry, which has relied on the Chiadzwa fields as a primary source of high value exports and industrial employment.

A Convergence of Regulatory and Financial Pressures

The company’s ability to clear its outstanding obligations has been severely hampered by a combination of disappointing sales and mandatory fiscal requirements. Confidential internal reports suggest that a recent diamond auction failed to meet revenue targets, leaving Anjin with limited funds after settling royalties and satisfying the state's foreign currency surrender rules. In Zimbabwe, exporters must convert a portion of their hard currency earnings into local currency, a policy that often reduces the immediate liquidity available for operational expenses like payroll. Consequently, the company found itself unable to fully address several months of salary arrears, further complicating its relationship with its remaining workforce.

The Human Cost of Market Volatility

As the mine transitions to a minimal maintenance team, the majority of the approximately 400 workers previously employed at the site have seen their contracts terminated. Mine manager Prosper Munemo confirmed the non-renewal of these agreements, citing the overwhelming operational challenges that have rendered the company unable to continue its normal functions. While management has indicated that redundant staff may receive priority if operations eventually resume, the immediate impact on the local community is profound. This workforce reduction follows a period where employees reportedly received only partial payments, highlighting the deepening financial distress that preceded the formal closure of the production lines.