'Zim sold $500m worth of diamonds'

HARARE - Zimbabwe has exported close to $0,5 billion worth of diamonds in the year to June 30, 2014, a new Kimberley Process Certificate Scheme (KPCS) report has revealed.

KPCS in a report released this week titled “Global Summary: 2013 Kimberly Process Certificate Count Table,” noted that local diamond mining companies exported a total of 9 564 277,33 diamond carats worth $448 635 917,56.

According to the report, Zimbabwe diamond exports were processed quarterly with the first selling 3 295 267 52 carats at a total cost of $132 758 885,59 while the second sale of 2 037 918,73 carats fetched $103 438 601,75 and the third auction of 2 255 066,43 realised $109 598 036,55.

The fourth sale of 1 976 025,25 carats fetched $102 840 393,67.

The diamonds were sold at varying prices with $40,29 being the average price in the first quarter, while $50.76, $48.60 and $52.04 were average prices for the second, third and fourth quarters respectively.

Despite such a projected haul from diamond revenues, Finance minister Patrick Chinamasa has said Treasury had not received a single cent.

There are six diamond mining firms in the Marange alluvial diamond fields in eastern Zimbabwe, mostly in partnership with the government’s Zimbabwe Mining Development Corporation.

The country also has privately operated mines — RioZim’s Murowa in Zvishavane, DTZ-OZGEO in Chimanimani and River Ranch in Beitbridge.

Mines minister Walter Chidakwa yesterday said he could not comment until he had acquainted himself with the report.

“I cannot say anything until I have read the document because I am not aware of the time periods mentioned in the document,” Chidhakwa said.

“I will give you a detailed comment after I have seen the report.”

Earlier this year, the Mines minister acknowledged that “Zimbabweans had not really got what they expected” in terms of proceeds from Marange.

Carolyn Francis, KPCS chair for the working group on statistics advised that the summary tables and charts for 2013 have been posted to the public area of the KP Rough Diamond Statistics Website.

“The tables contain information on production, trade and KPC counts,” Francis said.

“The tables currently available for 2013 include all data submitted or revised on the KP Rough Diamond Statistics Website on or before 01 July 2014.”

Francis says while every effort is made to ensure the data reported to them by participants was reliable and error free, it does not guarantee the “quality, accuracy or consistency of data presented.”

Comments (3)

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wotr - 24 July 2014

“Zimbabweans had not really got what they expected” in terms of proceeds from Marange, because some used to grease the palms of the OBEDIENT GODS

Mukanya - 25 July 2014

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