18 January 2018
Polls in '4 to 5' months: Mnangagwa
$430k cocaine woman blames Brazil firm
Tobva tadii paya trio bailed after 3mths
Businessman fleeces clinic of $27,000
Soldiers deployed all over rural Zim: MDC-T
MDC-T’s Mudzuri begs ZCTU for support
Moyo claims CIO spy killed during coup
Activist wants ED, Chiwenga at Hague
Bond notes here to stay, says Chinamasa
South Koreans in $70m Zim agro-project
Hubby bashes Star FM anchor in love row
$18/yr subscr too much for musicians
Caps bid to rehire star forward Nhivi
Mourinho says 'relaxed' about Sanchez
A view beyond the Zimbabwe coup
'Shit-hole': Just Take moral high ground
Economy: the need for a paradigm shift
Trump rage ignores truth: A response
Stop Belgium gem sells: Mbada boss
07/03/2014 00:00:00
by The Source
Antwerp gem auction appeasing foes ... Mbada boss Robert Mhlanga
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
Chinamasa seeks Marange accountability
Latest Antwerp gem auction raises $70m
Mugabe hints at Botswana gem model
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

MBADA Diamonds chairman Robert Mhlanga wants government to stop selling diamonds at the centre of the global diamond trade in Antwerp, Belgium saying the process was costly and rewards Zimbabwe’s European Union foes.

Frosty relations between Zimbabwe and the EU, which saw Brussels impose sanctions on President Robert Mugabe, his inner circle and selected firms in 2002 over alleged rights abuses, appear to be thawing after the bloc progressively eased the embargo since 2009 when the veteran ruler agreed to share power with the opposition.

Mugabe and his Zanu PF party regained control of government in another disputed poll in 2013, but the EU has continued the rapprochement and is set to resume direct development assistance to Harare this year.

Mhlanga told the parliamentary committee on Youth, Indigenisation and Economic Empowerment that Zimbabwe should set up its own diamond exchange to plug revenue losses in commissions paid to the Antwerp World Diamond Centre.

At least 84 percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp.

Mbada is a 50/50 joint venture between the state owned Zimbabwe Mining Development Corporation and New Reclamation Group’s Grandwell Holdings of South Africa.

“I have strong reservations about Antwerp because they are our yesteryear enemies. We have actually reeled under sanctions, thanks to Brussels and for us now because they have claimed to have lifted sanctions and we run to them. Personally, I have my own reservations,” Mhlanga said.

“I don’t think that is good. I strongly believe that Zimbabwe as a country we have capacity to hold auctions in this country where hundreds of companies can attend.

“There is a multiplicity of benefits when you invite people to do tenders in your own country. You bolster your own tourism industry… I don’t believe in appeasing a foe.”

He did not say how much commission the miners were paying.

Zimbabwe has held two diamond auctions at Antwerp in December last year and last month, realising $10,5 million from sales of 279,723 carats and $70 million from 959 931 carats.

Harare also has plans to hold auctions in Dubai and Shanghai this year. The country is seen accounting for over a quarter of the world’s diamond output in the next decade.


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

Digg it






Face Book



comments powered by Disqus
RSS NewsTicker