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MPs tour the Zimbabwe Diamond Technology Centre
10 Feb 2014 at 17:05hrs | Views
Parliamentarians today toured the Zimbabwe Diamond Technology Centre in Mt Hampden where they familiarised themselves with diamond beneficiation.
Members of the portfolio committee on Mines and Energy were taken through the project by ZDTC chairperson Mr Lovemore Kurotwi.
Gutu Central legislator, Lovemore Matuke (Zanu-PF) chairs the committee.
In his address, Mr Kurotwi bemoaned the existing policies that he said were benefiting foreigners at the expense of locals.
"The current laws are permitting only 10 percent for retention for value addition whilst 90 percent is being exported in its rough state yet the real money is in value addition," he said.
"This is not a healthy situation for the country, the sooner it is corrected, the better for the economy."
Diamond Beneficiation Association of Zimbabwe chairperson, Mr Richard Mvududu, added that the country was losing a lot by exporting precious gems in raw form.
He said license fees of $100 000 and license tenure of one year were prohibitive to prospective diamond beneficiation firms.
He said there were 29 diamond cutting and polishing factories in 2011 but had since come down to one at the end of 2013 as a result of these policies.
Legislators expressed concern with the policies saying they would push for amendment of the same.
Members of the portfolio committee on Mines and Energy were taken through the project by ZDTC chairperson Mr Lovemore Kurotwi.
Gutu Central legislator, Lovemore Matuke (Zanu-PF) chairs the committee.
In his address, Mr Kurotwi bemoaned the existing policies that he said were benefiting foreigners at the expense of locals.
"The current laws are permitting only 10 percent for retention for value addition whilst 90 percent is being exported in its rough state yet the real money is in value addition," he said.
"This is not a healthy situation for the country, the sooner it is corrected, the better for the economy."
Diamond Beneficiation Association of Zimbabwe chairperson, Mr Richard Mvududu, added that the country was losing a lot by exporting precious gems in raw form.
He said license fees of $100 000 and license tenure of one year were prohibitive to prospective diamond beneficiation firms.
He said there were 29 diamond cutting and polishing factories in 2011 but had since come down to one at the end of 2013 as a result of these policies.
Legislators expressed concern with the policies saying they would push for amendment of the same.
Source - herald
