Zimbabwe Approves Setting Up of Diamond Polishing Plants

(IDEX Online News) – The Zimbabwe government has given permits to a number of foreign diamond polishing firms to set up plants in the country with the aim of beneficiating its diamonds in order to extract the maximum value from them. 

The companies have already shipped or are in the process of shipping diamond polishing equipment into the country, according to a report by BizDay.

The moves by the approved firms, from China, Hong Kong, Dubai and Israel, follow meetings with the Minerals Marketing Corporation of Zimbabwe.

Mines and Mining Development Minister Walter Chidhakwa said more than 10 companies submitted their proposals and those approved are among some of the biggest diamond polishing companies in the world.

“At the moment the companies that we have approved have not started operating because they want access to the diamonds that match the quality that they are looking for,” he said.

Minister Chidhakwa said there were also budgetary issues that needed approval before the polishing firms can start operating.

In addition, foreign diamond firms, such as First Element Diamond Services of Botswana, have requested permission to mine diamonds in Zimbabwe. “First Element is among the group of foreign investment companies that are currently engaged in negotiations over possible exploration of the local diamond fields,” a source told BizDay.

Four diamond mining firms are operating in the Marange diamond fields: Mbada Diamonds, Marange Resources, Anjin and Diamond Mining Corporation.