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December 25, 2012

Window opens for Zimbabwe to sell diamonds

Filed under: Uncategorized — sbmzhcn @ 9:43 am

A window opened for Zimwaste stone recycling for malaysiababwe to sell its diamonds after the Kimberley Process Certification Scheme (KP) emerged divided last week on whether to allow Zimbabwe to export diamonds from Marange fields.

Zimbabwe’s Mines Minister Obert Mpofu made it clear to a meeting of the world diamond watchdog in Tel Aviv, Israel last week that cash strapped Zimbabwe would immediately start selling its stockpile of more than 3 million carats. Zimbabwe, under a coalition government between President Mugabe’s Zanu-PF, Morgan Tsvangirai, of MDC-T and now Prime Minister and Arthur Mutambara, of MDC-M, who is now a Deputy Prime Minister, has failed to raise badly needed funding from Western donors to rebuild an economy ruined by a decade of sanctions and recession. The government sees the gemstones as their only hope for a quick economic recovery. At the meeting in Israel, which was held behind closed doors, most African nations, excluding West African states, as well as India and Russia rallied behind a report by KP monitor Abbey Chikane, a South African national, to allow Zimbabwe to sell its precious stones. But the United States, Australia and the European Union objected over concerns that the southern African country had not met the minimum requirements of the KP. Despite the formation of the unity government, the West has remained…

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