Diamond and Minerals Leakage a "Threat" to Zimbabwe's Economy, Official Says
Post Date: 03 Mar 2011 Viewed: 445
Smuggling and leakage of diamonds and minerals is a threat to Zimbabwe's economy, Deputy Minister of Mines and Mining Development Gift Chimanikire told a meeting of small-scale miners last week.
The Zimbabwe Independent reports that Chimanikire criticized mining companies for what he called a lack of accountability on minerals production, especially in the Marange diamond fields, where – according to reports – miners bribe law enforcement to allow stones to be smuggled out to Mozambique.
According to some assessments, Zimbabwe might have lost as much as $30 million due to smuggled Marange diamonds.
Diamond smuggling holds back national development, the deputy minister said, holding up Botswana as an example of a nation that has managed to flourish thanks to its diamond industry. "They have managed to develop growth points into towns," he said.
Last year, the government proposed the Zimbabwe Diamond Act, intended to prevent loss of diamonds by a) giving the government exclusive rights to the nation's diamond resources; b) establishing criteria for choosing mining partners and c) setting up a framework to combat diamond smuggling.