Image credit: ZCDC (Facebook)
Company chief executive Mark Mabhudhu was quoted by The Herald Finance & Business as saying that the global rough diamonds sector was worth between $10 billion and $15 billion, but this can rise to $100 billion further down into cutting and polishing as well as jewellery manufacturing.
"We cannot sit and be content with US$15 billion. So we have initiated a plan to start value addition from next year, where we will be cutting and polishing diamonds so that we don't just sell raw diamonds," he said.
"The President has spoken a lot about value addition and beneficiation, and we are connecting into that programme very strongly."
Meanwhile, Mabhudhu said exploration will continue and there are plans to open closed mines such as River Ranch in Beitbridge and operate new mines in areas such as Chimanimani.
He also said that ZCDC will next year embark on an "aggressive international marketing programme" of local diamonds, with Dubai (UAE), Surat (India), and Israel, being considered.
"So who are we not to want to play in that space? There is a premium in taking production there, you will have respectable people coming there," said Mabhudhu.
"Some of them may not be keen to come to Zimbabwe, but if we take our production, there will get good business. We have done that before, and we got exceptionally good prices from those markets."
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
