Zimbabwe diamond resources are some of the largest in the world. Imperialism has attempted to prevent the Southern African state from trading its most lucrative resource on the world market., a photo by Pan-African News Wire File Photos on Flickr.
Government tightens diamond systems
Saturday, 10 November 2012 20:30
Zimbabwe Sunday Mail
The Government has formulated and adopted the Zimbabwe Diamond Policy (ZDP) that seeks to enhance transparency in the diamond trade and the beneficiation of gemstones.
The policy addresses loopholes that were being experienced in diamond exploration, mining, transportation, storage, valuation, marketing, beneficiation, value addition, capacity building and security.
According to the ZDP, several Government departments would be granted access to the financial records of all mining companies involved in diamond activities.
According to Section 6 of the policy: “There shall be access to diamond trade and financial records of all mining companies involved in diamond activities by the Ministry of Mines and Mining Development or its appointed agent(s) and other relevant arms of Government such as Treasury, the Zimbabwe Revenue Authority and the Environmental Management Agency.
“The Ministry of Mines and Mining Development will ensure that all diamond revenue is collected and remitted accordingly to Treasury.”
Mines and Mining Development Permanent Secretary Mr Prince Mupazviriho said the policy would ensure the country’s diamond sector adheres to international practices.
“The policy creates an environment of accountability that gives Zimbabwe an opportunity to attract local and foreign investment in the sector. The ZDP will tighten all leakages in the diamond sector,” he said.
The policy also proposes implementation strategies, indigenisation of the sector, setting up of a Sovereign Wealth Fund, offences and penalties for diamond companies and individuals who violate mining laws. According to Section 5.15, a quota of all locally produced rough diamonds shall be reserved for local beneficiation.
“There shall be appropriation of funds from diamond royalties collected by Treasury to the Sovereign Wealth Fund and in terms of the Mines and Minerals Act (Cap 21:05) as amended,” reads part of the policy.
“The funds accrued will be invested in other sectors of the economy to enable all Zimbabweans and future generations to benefit from the country’s diamond resources.”
Mbeki to grace diamond conference
Saturday, 10 November 2012 20:31
Zimbabwe Sunday Mail
Former South African President Thabo Mbeki is expected to grace the landmark Zimbabwe Diamond Conference which roars to life in Victoria Falls tomorrow.
Mines and Mining Development Minister Dr Obert Mpofu confirmed the respected statesman’s participation at a conference that has attracted leading players in the world diamond industry.
“We have invited Cde Mbeki and we are very proud to be associated with him because of his international resume. He is expected to give the keynote address at the conference.
“He is a renowned international mediator who was responsible for initiating the talks for our unity government and at one time he was tasked with mediating in the crisis in Syria,” he said.
Other dignitaries expected to attend the conference include Kimberly Process chairperson Ambassador Gillian Milovanovic, KP monitor Mr Abbey Chikane and renowned international diamond expert Mr Chaim Even-Zohar.
Mining ministers from countries such as South Africa, Democratic Republic of Congo and Angola have also confirmed their participation.
In an interview, Permanent Secretary in the Ministry of Mines and Mining Development Mr Prince Mupazviriho said all is set for the historic conference.
“Preparations for the conference are going on smoothly. Most of the invited delegates have confirmed their attendance,” he said, adding that the conference will mostly focus on beneficiation of diamond resources.
“The main highlight of the conference is that we are now going beyond just the mining of diamonds. We are now focusing on beneficiation to see how best the country can benefit from the diamonds. That is why we have invited all stakeholders from different countries to help us develop our own systems to enhance beneficiation from the diamonds,” he said.
The conference would also seek to demonstrate that all diamond operations in the country are above board, he added.
“The conference will also provide an opportunity for everyone to see that everything that we are doing in terms of the diamonds is above board. We have nothing to hide despite the negative international views that we get regards our diamonds,” he said.