Business / Economy
World Diamond Centre welcomes lifting of EU sanctions on ZMDC
26 Sep 2013 at 05:58hrs | Views
In an official statement published on Tuesday the Antwerp World Diamond Centre (AWDC) responded to the lifting of restrictive measures on the Zimbabwe Mining Development Corporation (ZMDC) by the European Union.
As a result of the change, imports of rough diamonds from the ZMDC into the EU are permitted as of today, September 25. In addition, the revised status means that imports from other companies linked to the ZMDC are also permitted. These are: Marange Resources, Canadile, Mbada, Kimberworth Investments and Diamond Mining Corporation (DMC).
To be eligible for import, the rough diamonds have to be packed in a tamper-proof container and be accompanied by a valid Kimberley Process Certificate for entry into the EU.
"Thanks to the support of the Belgian authorities, the decision to lift the restrictive measures will result in diamonds commercialized by the Minerals Marketing Corporation of Zimbabwe - MMCZ, to be sold at their optimal market value instead of the current lower prices in other markets," the AWDC said in its statement.
According to the AWDC, the move should have a "positive impact on the functioning of the market, mining income, on the necessary market transparency and importantly on a sustainable social and economic development of Zimbabwe."
The organization also stated that the shift will improve the standing of the EU within the Kimberley Process as the decision to maintain restrictive measures was incompatible with the resolution to lift all measures on the trade of Marange diamonds taken at the KP Plenary meeting in November 2012.
As a result of the change, imports of rough diamonds from the ZMDC into the EU are permitted as of today, September 25. In addition, the revised status means that imports from other companies linked to the ZMDC are also permitted. These are: Marange Resources, Canadile, Mbada, Kimberworth Investments and Diamond Mining Corporation (DMC).
To be eligible for import, the rough diamonds have to be packed in a tamper-proof container and be accompanied by a valid Kimberley Process Certificate for entry into the EU.
"Thanks to the support of the Belgian authorities, the decision to lift the restrictive measures will result in diamonds commercialized by the Minerals Marketing Corporation of Zimbabwe - MMCZ, to be sold at their optimal market value instead of the current lower prices in other markets," the AWDC said in its statement.
According to the AWDC, the move should have a "positive impact on the functioning of the market, mining income, on the necessary market transparency and importantly on a sustainable social and economic development of Zimbabwe."
The organization also stated that the shift will improve the standing of the EU within the Kimberley Process as the decision to maintain restrictive measures was incompatible with the resolution to lift all measures on the trade of Marange diamonds taken at the KP Plenary meeting in November 2012.
Source - AWDC
