GOVERNMENT says it will turn to value addition to derive more benefits from its mineral resources.
Addressing delegates during the official opening of the Inter Africa Diamond Beneficiation and Value Addition Conference yesterday in Victoria Falls, Mines minister Zhemu Soda said Zimbabwe is dedicated to maximise the value of its gems through value addition.
“We are dedicated to maximising the value derived from our diamond resources by promoting local beneficiation and value addition initiatives. Zimbabwe has set a 10% quota policy for local diamond cutting and polishing companies. This initiative has created jobs and fostered economic diversification,” Soda said.
“Zimbabwe is committed to adhering to international best practices in diamond mining, including compliance with the Kimberley Process (KP) Certification Scheme and other relevant regulations aimed at preventing the trade of conflict diamonds. Our commitment to the KP process has seen Zimbabwe chairing the KP in 2023, which was a responsibility we gladly accepted.”
He added the initiative aims to promote transparent governance systems to effectively monitor diamond revenues, benefitting all stakeholders, particularly local communities.
“We believe in transparent governance mechanisms to ensure that diamond revenues are accounted for and benefit all stakeholders, including local communities. This we have managed to do by having all diamond exports done through our parastatal, the Minerals Marketing Corporation of Zimbabwe,” he said.
“Our policy prioritises sustainable diamond mining practices that minimise environmental impact and promote long-term socio-economic development in diamond-producing regions.
“It is an opportunity for knowledge sharing on best practices in the diamond sector. As diamond producers we should be the leaders in the value addition of our mineral resources. It is time that we take a leading role not as producers of rough diamonds but suppliers of cut and polished diamonds.”
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