18 9 MARANGE RESOURCES FORMED BY THE ZMDC “In anticipation of bids, the Zimbabwe Mining Development Corporation created Marange Resources, a wholly-owned subsidiary of the ZMDC, to represent its commercial interests.” 75 Two companies were “cherry-picked” for consideration for joint ventures: “Core Mining Resources, a small, unheard of diamond company based in Kimberley, South Africa, and Grandwell Holdings, a Mauritius-registered company with ties to the New Reclamation Group, a South African scrap metal company.” 76 “[They] resulted in the incorporation of two new distinct companies in which ZMDC [through Marange Resources] had 50% shares. Grandwell and Marange Resources formed Condurango, which trades as Mbada Diamonds. Core Mining Resources formed a new company called Canadile Miners Private Limited.” 77 10 ORGANOGRAM 1: MARANGE RESOURCES FORMED BY THE ZIMBABWE MINING DEVELOPMENT CORPORATION Zimbabwe Mining Development Corporation Marange Resources Grandwell Holdings Mauritius- Chairman Robert Mhlanga Core Mining based/ties to New Reclamation Group (SA) & Mineral Resources (SA) Condurango t/a Mbada Canadile Miners Diamonds (Pvt.) Ltd ZMDC Representatives Grandwell Representatives Chairman Cougan Matanhire ZMDC Representatives Core Mining Representatives Memoranda of Agreement were signed with the ZMDC in July 2009 and final agreements in October. 75 Partnership Africa Canada, ‘Diamonds and Clubs’, June 2010, pg 5: http://www.pacweb.org/Documents/diamonds_KP/Zimbabwe-Diamonds_and_clubs-eng-June2010.pdf 76 Partnership Africa Canada, ‘Diamonds and Clubs’, June 2010, pg 5: http://www.pacweb.org/Documents/diamonds_KP/Zimbabwe-Diamonds_and_clubs-eng-June2010.pdf 77 Partnership Africa Canada, ‘Diamonds and Clubs’, June 2010, pg 5: http://www.pacweb.org/Documents/diamonds_KP/Zimbabwe-Diamonds_and_clubs-eng-June2010.pdf