The Zimbabwe Diamond Education College (ZDEC) has courted a new South African investor who will inject $2.5 million to set up a diamond jewellery making training school.
Newsday quoted ZDEC administrative executive Stephen Muchenje as saying that the institution would not engage in the cutting and polishing of diamonds for commercial purposes.
“A foreign investor should be coming soon to help us expand the college. The diamond processing will not be for commercial purposes,” he said.
Muchenje also said that the Zimbabwean government should review its diamond policy and regulations to allow locals participate in the industry.
He said new licencing fees for diamond processing companies were discouraging.
Zimbabwe raised levies for diamond processors to $100,000 from $20,000, resulting in registered processors declining to seven from about 20.
“Six years down the line (after the discovery of Marange alluvial diamonds), there is no clarity on the diamond industry. Why should there be mysticism in the sector? The diamond industry needs to be organised,” he told Newsday.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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