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Zim gazettes diamond regulations

15 may 2014

The Zimbabwean government has gazetted regulations, which empowers local diamond companies to grade, cut, polish, crush and process the stones.
The Herald newspaper reports that the government was establishing a diamond park in Harare as it reforms the mining sector to realise maximum benefits from mineral resources.
“Every local diamond manufacturer who has obtained rough diamonds from the local diamond pool shall sort by grading the rough diamonds by shape, clarity, colour and size and cut and polish or otherwise process the workable rough diamonds within the time and in the manner specified in its application for the purchase of the rough diamonds,” reads the Gazette.
The daily further noted that diamond companies were compelled to submit written returns to the Minerals Marketing Corporation of Zimbabwe (MMCZ) general manager in relation to that quota of carats of rough diamonds purchased from the local diamond pool.
Defaulters of this regulation may be barred from further diamond business.
“Any local diamond company selling rough diamonds shall account for the source of such rough diamonds and apply to the (MMCZ) general manager for permission to sell them. Every local diamond manufacturer shall account for the source of unworkable rough diamonds by submitting a return that links the unworkable rough diamonds to the purchase source,” reads the Gazette.
The Zimbabwean government also said every diamond processor could participate in international rough diamond sales upon application to the MMCZ general manager.

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