22 February 2018
Chamisa disowns Khupe bashers
Zacc: Grace innocent, UZ boss main culprit
Anguish as regular donors dump Zanu PF
Zanu PF youths vague after Mugabe snub
Chinamasa vows to rise from grave over farm
Tsvangirais call for elected MDC-T leader
Warning against Mugabe day truancy
Angry Byo crowds scupper peace indaba
ED vows CSC, David Whitehead revival
Matebeleland in command livestock
UK SAMAFest: Tuku, Winky D, Mafikizolo
Actress new Miss Zim licence holder
FC Platinum crash out 5-1 on aggregate
FC Platinum ready for sink or swim tie
Morgan Tsvangirai a dear, just leader
New era: Changing Zimbabwe’s past
Tsvangirai aide farewell to iconic boss
In the aftermath of Tsvangirai's death
Mugabe hints at Botswana gem model
21/02/2014 00:00:00
by Agencies
Zanu PF mafia looting diamonds: Gonese
Manicaland diamond centre on the cards
Marange gem miner in ‘survival mode’
Marange probe: Why we must be careful
Bob fooled over $50m Marange pledge
Stop Belgium gem sells: Mbada boss
Chinamasa seeks Marange accountability
Latest Antwerp gem auction raises $70m
Govt slashes fees for diamond polishers
Government plans diamond exchange
Marange diamonds lose global shine
28 gem cutting firms close shop
Govt clears out bosses at diamond firms
Gems running out? Not quite, says Mbada

ZIMBABWE is streamlining its diamond sector so that only one or two companies remain operational in the country, President Robert Mugabe has said.

The veteran leader was quoted Friday as saying that the country needs to emulate its diamond producing neighbours that have very few diamond mining firms.

Currently, there are seven companies mining gems in Marange in the eastern part of the country.

Discovered in 2006, the Marange diamond field has been reported to contain huge diamond deposits capable of satisfying 25 percent of the global market.

The government has partnered some foreign firms in mining the Marange gems.

"In fact, we are reorganizing the diamond industry so that we create one or just two companies not more than that, like we have in South Africa, in Botswana, Namibia, Angola. You do not have multiplicity of companies doing diamonds," the president said.

He said the state, one or two companies and a possible foreign partner were all that Zimbabwe needed to exploit its gems.

"A partner who is reliable, who has also capacity from the point of view of technology as indeed also from the point of view of investment capital," Mugabe said.

Since commercial exploitation of the Marange gems began a few a years ago, the government is expecting diamond revenue to play a considerable role in economic revival efforts.

The country held its first ever diamond auction in Antwerp last December, generating 10.7 million U.S. dollars from the sale of about 300,000 carats of diamonds.

A second auction at Antwerp of about 900,000 carats ran from Feb. 12 to 21.

The government has said it plans to widen its market base by selling its diamonds in the United Arab Emirates, China and Botswana before it begins domestic sales possibly by June this year.


Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it






Face Book



comments powered by Disqus
RSS NewsTicker