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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

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There is a significant need for smart and technological financial solutions in the diamond industry

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The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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Zim scraps $5m registration fee for diamond mining

31 march 2014

Zimbabwe, one of the emerging gem producers in southern Africa, has scrapped the $5 million registration fees, which it previously demanded from prospective diamond miners.
However, application and renewal fees for diamonds remained the same at $1 million.
The government also said in a notice that registration fees for platinum special prospecting licence had also been cut from $2,5 million to $750 000.
Application fees for an ordinary platinum prospecting licence was now $500 from $500 000.
The Zimbabwean government recently reduced licence fees for diamond polishing and cutting companies by 80 percent to encourage participation by local players.
“We have reduced the fees from $100,000 to $20,000. We said investors do not make decisions over one year, but let the licence be a 10-year licence. We said we want you to create jobs,” said Mines and Mining Development minister Walter Chidhakwa last month.
Meanwhile, the Herald newspaper reports that local analysts were still studying the "actual impact" of the new mining fees.
"This is what the miners have been calling for but we are still studying the impact of the new pricing structure," former Chamber of Mines president Victor Gapare was quoted as saying.
Zimbabwe's economy is expected to grow by an average 7,3 percent in the next five years, with mining being one of the most critical sector expected to drive that growth.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished