admin
Farirai Machivenyika Senior Reporter
Diamonds from Marange will soon be sold in China and the United Arab Emirates as Government seeks to maximise revenue from the precious stone, Finance Minister Patrick Chinamasa has said. Addressing the National Assembly this week, he said: “We have already started and this is just a trial to sell it through Antwerp (Belgium). We are studying those results and we are also intending to sell through the Shanghai Diamond Exchange.
“We are also going to do it through the Dubai Diamond Exchange. All this is to discover the true value of our diamonds,” he said.
The country fetched US$10,5 million from sales of around 300 000 carats of diamonds on the Antwerp market in Belgium last year. This followed lifting of sanctions on the Zimbabwe Mining Development Corporation by the European Union, giving the state firm access to the world’s largest diamond market.
Minister Chinamasa said Government was working on improving transparency in the diamond sector.
“Since we came, we are trying to demystify diamonds. We would want all the information to be on the table so that we can speak on this subject more intelligently.
“Where in the past this information was not brought on the table, the rumour-mongering took over. So we want to bring it on the table and we are going to do it,” he said.
Government will streamline diamond mining in Chiadzwa by reducing the number of companies operating at the fields to improve transparency.
Minister Chinamasa said more exploration needed to be done to find the extent of diamond reserves in Zimbabwe.
“In respect of diamonds, we now need exploration into Kimberlite and conglomerates. The resources for that exercise are being mobilised so that we have geological surveys to be done to determine where the Kimberlite are and where the conglomerates are. The general inspection shows that they are there.
“So it is a matter of identifying precisely where they are and also to mobilise more resources and better equipment in order to mine them,” he said.
Kimberlites and conglomerates yield gems, unlike alluvial diamonds that are mainly industrial.
On average, industrial diamonds sell for between US$8 to US$10 per carat.
Online Reporter