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Law to force miners to sell 10pc diamonds locally
24/09/2010 00:00:00
by Business Reporter
 
Local is lekker ... Zimbabwe has licenced six diamond cutters
 
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ZIMBABWE is proposing new legislation which will compel diamond miners to sell 10% of the gems they mine to locally-based processers and polishers.

The government has issued six $20,000 licenses to local diamond cutters and polishers in anticipation of the planned move.
 
Once sold, all cut and polished diamonds processed in the country would have to receive Kimberley Process certification.

Zimbabwe's Secretary for Mines Thankful Musukutwa told Bloomberg that the government was looking for a way to implement the new law, which would affect a number of companies working the nation's diamond deposits.

River Ranch Ltd is licensed to mine for diamonds in the south of the country, as is Murowa Diamonds.

Mbada Mines Ltd and Canadile Miners Ltd mine the eastern Marange diamond fields in conjunction with the government-owned Zimbabwe Mining Development Corporation.



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