Belgian Court: Zimbabwean Diamonds to be Returned to Mining Firms

(IDEX Online) – A Belgian court has ruled in favor of Zimbabwean diamond firms that around $45 million of diamonds that were part of a diamond tender of Marange goods seized in Antwerp in September should be returned to the companies.

The rough stones were seized under a court order against the Zimbabwe Mining Development Corporation (ZMDC) as part of a $500 million suit concerning a canceled mining license in Zimbabwe.

Zimbabwe lawyers successfully argued at the Court of First Instance in Antwerp that the diamonds belonged to several mining firms in the Marange area and not to the ZMDC, Zimbabwe's state-owned Herald newspaper reported.

However, the diamonds will not be released before late next week since, in an unrelated suit, farmers from the Netherlands are also claiming the proceeds from a sale as part of a $54 million case against the Zimbabwe government for being evicted from their properties under what they claim was an illegal land reform program that gave the land to Zimbabweans.

The court will rule on the farmers' case on December 18, according to The Herald.