Sundaymail Editor
Online Reporter
Zimbabwe will soon have a new diamond cutting and polishing plant after Cabinet said it will facilitate the participation of foreign investor – Ashelroi Trading and Services – in the country’s diamond auction system.
Ashelroi is expected to build a top-of-the-line diamond cutting and polishing plant in Zimbabwe.
Said Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa following yesterday’s Cabinet meeting:
“In the diamonds sub-sector Cabinet noted the need to facilitate a new investor, Ashelroi Trading and Services, to participate in the diamond auction system as already stipulated in the diamond value addition chain in the National Development Strategy 1.
“The new investor will construct an advanced diamond cutting and polishing plant in Zimbabwe and promote skills and technology transfer on cutting and polishing.”
Polished diamonds will allow Zimbabwe to gain more from its diamond production.
The state-owned Zimbabwe Consolidated Diamond Company (ZCDC) is the country’s biggest diamond miner, producing around 2, 3 million carats last year.
This year ZCDC’s output is expected to hit 3 million carats.
Online Reporter