Diamond policy to be launched in August

Taurai Mangudhla

HARARE – Zimbabwe expects to introduce a Diamond Policy in August to regulate, guide operations and market the precious stones, President Emmerson Mnangwagwa has said.

The critical policy comes after the chaotic consolidation of seven diamond producers that used to operate in the Marange area to form the Zimbabwe Consolidated Diamond Company (ZCDC).

In spite of this attempt to clean up the sector, questions still remain around the viability of the ZCDC strategy and, in particular, marketing of the precious stones amid indications of a possible skills gap.

“Government is fully committed to the sustainable development of the diamond mining sub-sector in order to harness its full potential to ensure that communities and the nation at large benefit from diamond mining,” President Mnangagwa said this morning at a ceremony to officially hand over $5 million to the Marange-Zimunya community trust from ZCDC.

The cheque fulfils promises of multimillion pledges that were presented to the trust during President Mugabe’s administration, but not honoured. It revitalizes the community trust. ZCDC has made commitments to also pay annual dividends to the Trust.

Chief Zimunya said so far the Trust had received only $500 000 from the previous pledges.

“In this regard, the finalisation of the Diamond Policy is progressing well and will soon be ready for presentation,” President Mnagangwa added.

He said the policy’s objective is to facilitate optimisation of the diamond subsector through implementation of appropriate strategies through the entire value chain from exploration, mining, beneficiation, value addition and marketing as well as to guarantee security and accountability in the sub sector.

The policy also seeks to create a viable operating environment that attracts foreign and local investment.

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