Zim to assume dual chair in diamond regulatory arms

By Wellington Makonese

ZIMBABWE is set to assume Chairmanship of the African Diamond Producers Association and Kimberly Processing Certification Scheme in 2023 in a positive development for the country’s diamond mining sector.

This comes at a time when the first KPCS review in more than a decade is scheduled for May.

The mining sector is poised for a further leap as the country is set to assume the chairmanship of the global diamond trade regulatory arm, the Kimberly Processing Certification Scheme (KPCS) in 2023.

This comes as a double dose of good fortune as the country is set to chair the African Diamond Producers Association, a development that is expected to catapult the country’s rough diamond trade’s scope on the global market.

“April 22, we are assuming chairmanship of the African Diamond Producers Association which helps an intergovernmental Association which seeks to attract quality buyers, this will influence pricing markets,” said Polite Kambamura Deputy Minister of Mines and Mineral Development.

With the country’s compliance to the global diamond regulatory practices under the KPCS framework set to be reviewed in May for the first time in a decade, the Deputy Minister of Mines and Mineral Development underscored the importance of the re-engagement drive.

“The re-engagement drive is bearing fruit and the fact that we getting to KPC shows we going somewhere, and of cause, in May we will be assessed but believe we are prepared for the results and this will put our diamond on the spotlight,” he said.

The Kimberly Process compliance assessment among member states is conducted after every 5 years and Chairmanship is on a rotational basis

Zimbabwe through the Parliamentary Portfolio Committee on Mines and Energy last conducted its own assessment in 2021 and government expects it to sail through.

The country has vast diamond deposits in the world, which if well exploited and without trade embargoes, can propel the country’s economy to dizzy heights.

However, the smear campaign against the country has in the past affected the sale of the country’s gems.