News / International
US adds two Zimbabwe diamond mining firms to sanctions list
13 Dec 2011 at 05:15hrs | Views
The US has added two diamond mining firms operating at Chiadzwa to its list of targeted sanctions, which remain in place against Robert Mugabe and key figures and companies of his regime.
The US Treasury's Office of Foreign Assets Control (OFAC) updated its "specially designated nationals list" to include Mbada Diamonds and Marange Resources, which are both joint venture groups with the State-owned Zimbabwe Mining Development Corporation (ZMDC). The ZMDC is already on the "sanctions" list, meaning legally no US company or individual is allowed to do business with it.
This update of the sanctions list follows the recent decision by the diamond trade watchdog group, the Kimberley Process (KP), to give diamond exports from Chiadzwa the green light, despite reports of human rights abuses there. There are also claims that the proceeds from diamond sales could be used to shore up the Mugabe regime, with top ZANU PF officials said to be the primary beneficiaries of the mining firms.
The US Treasury's Office of Foreign Assets Control (OFAC) updated its "specially designated nationals list" to include Mbada Diamonds and Marange Resources, which are both joint venture groups with the State-owned Zimbabwe Mining Development Corporation (ZMDC). The ZMDC is already on the "sanctions" list, meaning legally no US company or individual is allowed to do business with it.
This update of the sanctions list follows the recent decision by the diamond trade watchdog group, the Kimberley Process (KP), to give diamond exports from Chiadzwa the green light, despite reports of human rights abuses there. There are also claims that the proceeds from diamond sales could be used to shore up the Mugabe regime, with top ZANU PF officials said to be the primary beneficiaries of the mining firms.
Source - swradio
