MINES and Mining Development minister Walter Chidakwa has said government will this week revise the country’s diamond laws and regulations in a move aimed at enhancing value-addition and local participation in the gems industry.
Victoria Mtomba
Chidhakwa told a news conference in Harare yesterday that the new measures, which were expected to be gazetted this week, would see the setting-aside of a considerable percentage of diamonds mined for polishing locally.
“What we have discovered is that the way the [current] piece of legislation was drafted left room for non-performance on the part of producers of diamonds,” he said.
Chidhakwa said while the current law was not specific on what diamond producers should reserve for beneficiation, the new measures would compel them to sell not less than 10% of their gems to local cutters and polishers.
He said the new regulations had been expected to be promulgated by Friday last week.
“I am not sure if it has been done. Once the law is promulgated, you will see fairly dramatic movement towards the facilitating of these companies so that we can move forward and enhance value,” Chidhakwa said.
He said accounting for every diamond and cleaning of diamonds would enhance value.
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The country has more than 20 companies in the diamond polishing and cutting business.
Meanwhile, Chidhakwa said board members for the Mining Exploration Company would be announced this week.
