Zim diamond output poised to grow

The country, which is currently the seventh largest producer in the world, has potential to supply 25 percent of global demand.
Currently, the country has got four diamond-mining firms operating in the Chiadzwa fields, namely Marange Resources, Mbada Diamonds, Anjin and Diamond Mining Corporation.
The Kimberley Process Certification System recently gave Anjin the green light to sell its diamonds.
Western countries led by the United States have been battling to block Zimbabwe from selling its diamonds in order to sustain effects of illegal economic sanctions that they imposed on the country in retribution for expropriating land from former white commercial farmers.
The country stands to earn more than US$2 billion per year from the three Marange mines that have been permitted to sell so far.
According to the Diamond Industry Report for 2011 the country’s diamond output would continue to grow.
“In the last three years, Zimbabwe has become a significant diamond producer and is forecast to become a top-three producer by the end of this decade,” the report said.
“With the changing environment in Zimbabwe, the international community is slowly beginning to accept Zimbabwe back into the fold. Diamonds from Zimbabwe which had been excluded from the markets in the last two years are slowly making a comeback.”
The report said that despite efforts to stop Zimbabwe from marketing, her gem production continued to grow.
“Exclusion from the international diamond markets has not deterred Zimbabwe from producing diamonds and production has been increasing exponentially after formalisation of diamond mining in the Marange area,” said the report.
Currently Botswana is the top diamond-producing nation in the world by value followed by Russia and Canada. – New Ziana.