Dubai Exchange Appoints Mbada Diamonds Chairman to Board
March 05, 14
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Mbada Diamonds (Private) Limited is a joint venture between Zimbabwe Mining Development Corporation through Marange Resources and New Reclamation Group via Grandwell Holdings.
Peter Meeus, chairman of DDE’s board of directors, said: “The prominence of high profile industry executives on the DDE’s board of directors reflects our truly global status in the diamond trade.”
Ahmed Bin Sulayem, Executive Chairman, DMCC said: "The Dubai Diamond Exchange has gained global recognition and is currently ranked among the world's top three market places for rough and polished diamonds. With prominent industry executives on the board of directors, we are confident of enhancing Dubai's strength as an attractive diamond trading hub.
“We are well positioned to cater for those producing countries in Africa to trade through to the consuming countries in Asia along what we call the New Silk Route. We are delighted to have Dr. Mhlanga on our board bringing his experience and depth of knowledge to our exchange.”
The DDE noted that Africa accounts for 61 percent of the world’s diamond production by value and 56 percent by volume.
In 2013, the DDE also appointed the Hon. Prof. Francis Pedzana Gudyanga, Permanent Secretary of the Mines and Mining Development of the Republic of Zimbabwe, and Mr. Levy Rapoo, CEO of the South African Diamond and Precious Metals Regulator (SADPMR).
Established in 2004, DDE is a member of the World Federation of Diamond Bourses, and fully complies with the Kimberley Process Certification Scheme.