Zimbabwe said a diamond policy, which seeks to promote the country as a safe destination for diamond mining is in the offing.
The country’s Mines Minister Obert Mpofu said in a lecture on the country’s mining policy at an army college that the government had finished crafting the draft of the policy.
"The draft diamond policy has been produced after extensive stakeholder consultations which we have carried out for the past three months,” he was quoted by state broadcaster, ZBC as saying.
“The policy is a precussor to the Diamond Act which is also at an advanced stage of drafting.”
Apart from promoting Zimbabwe as a safe destination for diamond investors, the policy also sought to boost accountability as well as ensure best international standards are met in the valuation and marketing of the country’s gems.
Zimbabwe had been using the Precious Stones Trade Act for the administration of the diamond industry since the first discovery of diamond deposits in 1903.
Meanwhile, Mpofu told CNN in a report seen by Rough&Polished that Zimbabwe would focus on trade with friendly countries on a win-win basis.
"The country's mining companies are on the sanctions list. Marange Resources, Mbada and ZMDC are all under sanctions,” he said.
“We will do business with friendly countries but if we start telling people who we have sold the diamonds to and at how much, then what do you expect to happen to our companies? They (West) will freeze their money and as I speak, ZMDC has its money frozen by the United States."
Mathew Nyaungwa, Rough&Polished, from Zimbabwe
