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Mugabe says Zim to continue with Dubai diamond sales

14 april 2014

Zimbabwe is expected to continue selling its diamonds through the Dubai Diamond Exchange where it recently earned $29,3 million from 380 626,24 carats sold.
The government got a royalty of $4,39 million from the auction.
President Robert Mugabe was quoted by The Herald newspaper as saying that Zimbabwe wanted to gain experience in the “complex” diamond business before starting its own auctions at home.
“Here we have the same Third World people with sympathies for us. Together, we are part of the KPC process. You do not have the evil heart of Europe,” Mugabe said in reference to the Dubai Diamond Exchange centre and its leadership.
“We want to be partners in trade. We want partners who regard us as human beings, partners who share our misfortunes and appreciate that we want to develop also in the same way that we appreciate their own development.”
Zimbabwe started selling Marange diamonds openly on the international market last December after the EU removed sanctions on the Zimbabwe Mining Development Corporation, which mined Marange alluvials in partnership with foreign companies.
Mugabe said Zimbabwe had barely begun exploiting its diamond wealth.
“Together with you, we want to enhance the Dubai process of selling diamonds. We haven’t gone Kimberlite mining. We are going to start that now. People have been doing alluvial mining, and also conglomerates. Yet we have lots of Kimberlite areas across the country,” he said.
“I am sure we are going to be a big diamond mining country. And so with Dubai, a Dubai that is appreciative of us, we can conduct bigger diamond auctions. Yes, we also want to conduct diamond auctions back home, but it’s Dubai for now.”

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