diamond
diamond

Zimbabwe’s diamond production fell by 34 percent to 5.9 million carats in 2014 from 8.9 million carats in 2013 due to depletion in alluvial diamond deposits in Marange, a senior government official has said.

diamond
diamond

Deputy Minister for Mines Fred Moyo told Parliament recently that diamond revenue fell by 23 percent to 350 million U.S. dollars in 2014 from 453 million in 2013 due to the fall in production levels.
The deputy minister attributed the declining gem production to dwindling deposits of alluvial diamonds in the vast Marange diamonds fields in eastern Zimbabwe where government is mining the gems in partnership with six firms.
The government has, however, announced plans to merge the diamond firms and form one entity in which government will be the majority shareholder in a move aimed at enhancing transparency and accountability in the mining of the gems.
The decision came after government complained about lack of transparency in the mining and selling of gems by the mining firms.
The minister said due to dwindling alluvial diamond deposits, the mining firms had begun switching to mining conglomerates.
He said the country last week held its third local diamond auction since November 2014 when Zimbabwe began marketing its gems locally.
The local auctions came after the country had sold its gems on international markets such as Antwerp and Dubai Diamond Exchange in 2014 to gain experience in gem marketing. Enditem

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