Under new legislation proposed in Zimbabwe, diamond mining companies would be required to sell 10% of the diamonds they mine to locally-based processers and polishers.

To that end, the government has issued six $20,000 licenses to Zimbabwean diamond cutters and polishers. Once sold, all cut and polished diamonds processed in the country would have to receive Kimberley Process certification.

Zimbabwe's Secretary for Mines Thankful Musukutwa told Bloomberg that the government was looking for a way to implement the new law, which would affect a number of companies working the nation's diamond deposits.

River Ranch Ltd is licensed to mine for diamonds in the south of the country, as is Murowa Diamonds. Mbada Mines Ltd and Canadile Miners Ltd mine the eastern Marange diamond fields in conjunction with the government-owned Zimbabwe Mining Development Corp.