Sunday, September 14, 2014

Call to Prioritize Value Addition of Zimbabwe Diamonds

September 15, 2014
Tendai Rupapa Senior Reporter
Zimbabwe Herald

Zimbabwe should stop exporting rough diamonds as the country stands to accrue huge benefits from adding value to its precious stones, the executive head of the Non-Aligned Movement (NAM), Professor Arun Kulshreshtha said yesterday.Speaking on the sidelines of a tour of the Zimbabwe Diamond Centre by the NAM delegation that is attending the Mineral Beneficiation and Processing Workshop that ends in Harare today, Prof Kulshreshtha said the continued export of raw diamonds was akin to promoting“ a colonial mentality”.

“Why are you exporting your diamonds in their raw form. I think that is a colonial mentality of promoting other countries.  You should add value to your diamonds,” he said.

Prof Kulshreshtha said Zimbabwe should establish its own auction centre to trade its diamonds.

He said Zimbabwe should take a leaf from countries that have developed vibrant economies from prioritising value addition and beneficiation.

“You should value add your diamonds and sell them at an auction that is located here. There is no reason of selling your diamonds in other countries.

“If you look at India, the city of Surat, they do not have the diamonds but look at Surat, it’s a diamond city with thousands of jobs.

“In Belgium, the big bosses at Antwerp (Antwerp World Diamond Centre) they do not have the diamonds. Japan’s economy 30 years ago was bad, but look at it now, its all because of value addition,” he said.

Prof Kulshreshta said the Zimbabwe Diamond Centre, which was under construction, had the potential to bring economic prosperity to the country and create employment for thousands.

“Zimbabwe should be at the forefront of the globe in terms of diamonds. Cutting and polishing of diamonds will create thousands of jobs,” he said.

Speaking during the tour of the diamond facility, Senior Presidential Advisor to Ugandan President Yoweri Museveni, Mr Richard Tushemereirwe, said the initiative being undertaken at the Zimbabwe Diamond Centre should be encouraged for all other sectors in the economy.

“We have an assignment to your President (Mugabe). What you are doing should be a standard not only for diamonds, but for other sectors so that value addition can be enabled.”

President of the Zimbabwe Diamond Centre Mr Lovemore Kurotwi said Zimbabwe was losing billions of dollars by failing to add value its precious stones.

Mr Kurotwi said research had shown that countries that were exporting raw diamonds were raking in a cumulative US$14 billion, while those that were cutting and polishing the stones were grossing an estimated US$42  billion.

Officially opening the workshop on Thursday, President Mugabe said Government was keen to advance the beneficiation of diamonds as value addition and beneficiation of minerals was one of the four clusters of Zim-Asset.

Zim Asset calls for the spearheading of value addition and beneficiation of all resources obtaining in the country before they are exported.

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