Zimbabwe halts export Of ‘rough’ diamonds

Zimbabwe Mines Minister Walter Chidhakwa has revealed that the country has with immediate effect banned exports of rough diamond to ensure maximum value for its minerals.

The idea emerges from a recent cabinet meeting which discussed about the exportation of rough diamonds and resolved to ban the exports of the precious metal noting that it was not rational for the country to continue selling them, hence the directive.

The Mines minister stated that the Government wants to focus more on developing the country’s economy.

He added that the Government further want to embark on what he called ‘serious value addition programmes’ to include the cutting and polishing of diamonds and manufacturing of jewellery.

The ban follows President Robert Mugabe’s recent visit to the Dubai Diamond Exchange earlier this year where he expressed his satisfaction with its operations.

Around the same time, Zimbabwe sold about 400,000 carats of diamonds in Dubai for US$ 30m

Check Also

Africa’s Moment: Becoming a global economic powerhouse

How youth and natural resources can drive the continent’s global economic and social leadership now …