Zimbabwe Targeting Foreign Investors – Mines Minister Chidakwa

Minister of Mines and Mining Development Walter Chidakwa.

(IDEX Online News) – Zimbabwe's Minister of Mines and Mining Development, Walter K. Chidakwa, closed the Second Zimbabwe Diamond Conference on November 7 with an emphasis on finding ways to develop the country's diamond mining industry.

Speaking on the sidelines of the conference, Chidakwa told IDEX Online that the country was keen to attract foreign investors to develop its diamond exploration activities.

"There are 150 kimberlitic areas that have not been explored that we have data on," he said. "We have a very great responsibility to enable them to be explored and then we will be able to sell a significant number of diamonds. My ministry has a great deal of data regarding possible diamond-bearing areas.

"We want to see the state and private companies involved in exploration. My message to the international community is: 'We have the diamonds but we do not have the technology needed to extract them. We say give us the understanding of diamonds and expertise and then we can supply the rough diamonds," he added, skirting questions about how that could be achieved due to the international sanctions on Zimbabwe and its ruling regime.

"While the European Union lifted sanctions that had prohibited trading in Marange diamonds, those diamonds still remain under U.S. sanctions. That leads international banks to shy away from doing business with us. They are scared of being fined by the U.S. government and being put on a blacklist, so the Marange-based miners cannot get access to credit lines around the world. If we establish full relations with the European Union, that would help get us credit lines."

He also said that his ministry has held talks with Indian and Chinese companies regarding training of Zimbabweans in diamond sorting and polishing. "We have spoken to 20 companies in the field and we received a very positive response. I am telling Zimbabwean ministers that we must cut red tape and make it easier for foreign companies to do business.

"We want to hold more auctions here and for foreign buyers will come back here again and again. That means we need to be able to issue multiple-entry visas which is something the government does not yet have. We cannot expect people to visit often if they can only get single-entry visas every time."