Zim bans rough diamond exports in favour of value-added goods

The Zimbabwe government announced last week it would, with immediate effect, stop the export of rough diamonds to “ensure the country gets maximum value for its minerals”, reported the country’s press

Zimbabwe’s SW Radio station quoted mines minister, Walter Chidhakwa, as saying that cabinet had agreed that it was ‘not proper or rational’ for the country to continue selling rough diamonds. He reportedly said the government had been negotiating with ‘prospective investors’ who were willing to help Zimbabwe break into the international market as an exporter of cut diamonds.

NewsDay.com cited Chidhakwa as saying: “We must embark on serious value addition programmes that include the cutting and polishing of diamonds and manufacturing of jewellery.” According to the daily newspaper, Zimbabwe has been exporting rough diamonds to the international market, losing vast amounts in potential revenue earnings, and the government now wants the country to export cut gems and crafted jewellery instead.