adminBusiness Correspondent
A Diamond polishing and cutting policy, which will cater for locals in the sector is in the pipeline, Vice President Emmerson Mnangagwa has revealed.
The Vice-President said this last Friday in response to a question which was asked by local businessman, Mr Joseph Sanhanga, who was among the first in Mutare to invest in a diamond polishing and cutting factory in 2009 operating as Goodcrew Investment.
Mr Sanhanga had asked how the new Zimbabwe Consolidated Diamond Company would promote locals in the diamond polishing and cutting industry given the existing policy of a 10 percent quota of diamonds mined in the country reserved for local buyers.
The Vice-President said the 10 percent quota was still active , but would be further activated through the diamond polishing and cutting policy which will be pronounced soon.
“Currently Government was focusing on the ZCDC to consolidate all the diamond mines into one.
“However polishing and cutting, the 10 percent preserved for locals is still there but soon the Mines Minister will pronounce a diamond polishing and cutting policy which will broadly look into the sector,” said the VP.
Mr Sanhanga said Manicaland was sitting on a very beneficial value addition and beneficiation industry of diamond polishing and cutting.
“Personally I am ready and have always been ready to talk business that steers futuristic development in the province. If it is land needed, I am willing to offer land at my Valley of Kings Township and even invest in the diamond polishing and cutting centre project.
“I have extensive knowledge on diamond polishing and cutting from past research when we ventured to open a factory.
“So I know the huge employment creation opportunities and money-spinning opportunities the project has for the country if done properly,” said Mr Sanhanga.
Zimbabwe National Chamber of Commerce national past-president Mr Hlanganiso Matangaidze, is on record to say in 2012 over $125 million of the Chiadzwa diamonds value additional income was lost to Surat in India creating 60 000 jobs.
The diamond polishing and cutting sector is known to create many jobs in India and Israel.
Online Reporter