Positive wind to Zim Diamond Policy

ZCDC held workshop 
on Diamond Policy

Diamond mining giant, the Zimbabwe Consolidated Diamond Company (Pvt) Ltd (ZCDC) has hit the ground running into 2019. Following the promulgation of the Diamond Policy having been announced in December 2018, ZCDC recently held a strategic workshop to align its strategies to the tenets of the Diamond Policy.

This policy will see ZCDC entering into joint ventures with strategic partners to mine diamonds for the benefit of the nation by meaningfully contributing towards the fiscus. The diamond policy will regulate the diamond sector and ensure accountability in the mining, processing and selling of the precious minerals.

The policy will see only ZCDC, Murowa Diamonds and two other companies, yet to be approved by the government, undertaking diamond exploration and mining in Zimbabwe. The policy will cover all stages of diamond value chain including exploration, processing, valuation, marketing, beneficiation, value addition, security and law enforcement.

Announcing the diamond policy, then Acting Minister of Information, Publicity and Broadcasting Services Mangaliso Ndlovu said: Any other entity or person with diamond mining title shall approach any one of the four approved companies for joint venture arrangements. The Government through ZCDC shall be the 46 percent and the local Community Trust-five percent indigenous partners of any foreign investor who intends to undertake diamond mining activities in Zimbabwe.

Government may waive that local ownership threshold subject to satisfactory submissions and due diligence. All rough diamonds produced from diamond mining operations shall be subjected to the Diamond Value Management Centre to be established by the ZCDC for cleaning, sorting and valuation save for Murowa Diamonds.”

Plans to construct a gemology centre in Mutare are underway.

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