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Wednesday, May 29, 2024

Increased global confidence in Zimbabwe’s diamond value chains projected

Story by Stanley James, Business Editor

GLOBAL confidence in Zimbabwe and the local diamond value chain is projected to increase as the country chairs the international regulatory body, Kimberly Process Certification Scheme (KPCS).

The country will also be spearheading a diamond sector reform agenda for the benefit of over 50 Kimberley Process Certification Scheme (KPCS) members.

The country will also host two KPCS meetings to be attended by global diamond mining delegates in May and November this year.

Diamond mining experts say the KPCS chairmanship is a vote of confidence in Zimbabwe by the global community.

Zimbabwe Miners Federation National Secretary General for Semi-Precious and Gem -Stones Mr Privelage Moyo noted, “It is all about the confidence the fact that Zimbabwe is chairing means that the global community is endorsing the local diamond value chains so it is up to us to ramp up production and focus on increased sales.”

Diamond Mining Consultant Mr Cute Machekeche said, “There have been challenges for some years in as much as the trade and production of Diamonds in Zimbabwe is concerned but there is that belief of restored interest which has seen KPCS members being satisfied with what Zimbabwe is doing in the smooth flow production of the diamonds.”

The KPCS is a multilateral trade institution established in 2003 to ensure the smooth trade and flow of diamonds across the globe.

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