Govt mortgages Zimbabwe diamonds to China

First Lady Grace Mugabe inadvertently revealed this at a rally in Murombedzi that government was mortgaging diamonds to a Chinese jeweler in exchange for the training of young Zimbabweans in diamond cutting and polishing.

Grace who holds no government post, told Mines minister Walter Chidakwa that the Chinese firm had already shortlisted prospective students to be taught diamond cutting and polishing in China, but they needed diamonds from government to proceed.

Meanwhile, Zimbabwe Diamond Centre chairman Lovemore Kurotwi says Government must stop exporting rough diamonds to maximise profits through beneficiation.

Kurotwi said Government was losing millions of dollars through the exportation of rough diamonds.

Kurotwi said in line with the country's economic blueprint, Zim-Asset, beneficiation and value addition was the best route to economic prosperity.

He said value addition comes with numerous benefits, including employment creation.