September 24, 2017

Zimbabwean Government bans export of rough diamonds

tray-ofroughdiamonds

Zimbabwe is no longer accepting export of rough diamonds from the country. According to the minister in charge of mines Mr. Walter Chidhakwa, the move is to ensure that Zimbabwe gets maximum value for its minerals. He further said that the cabinet discussed about the exportation of rough diamonds and thought that it was not rational for the country to continue selling them, hence ordered that exports should stop immediately.

Mr. Walter also pointed out that the Government wants to focus more on developing the country’s economy, and that is why they figured out this to be a nice move. They also want to embark on what he called ‘serious value addition programmes’ that include the cutting and polishing of diamonds and manufacturing of jewellery.

The decision to stop diamond exports comes after President Mugabe visited the Dubai Diamond Exchange earlier this year and expressed his satisfaction with its operations. Around the same time, Zimbabwe sold about 400,000 carats of diamonds in Dubai for US$ 30m.

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