Mr Masimirembwa says it is not possible for the country to have mined diamonds worth US$15 billion to date at Chiadzwa.
"It is impossible for the country to have lost US$15 billion, there is no geological report on the mining taking place and there is no Kimberling mining taking place in Marange diamond fields.
"We were selling the potential to the joint venture partners. Alluvial diamonds are mostly industrial and of poor quality at most they were fetching US$100 per carat.
He said companies were expected to do exploration and go into Kimberlite diamonds and by the time he left ZMDC no exploration had taken place.
Meanwhile, Registrar General Tobaiwa Mudede has also appeared before the Parliamentary Portfolio Committee on Defence and Security today.
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