News / National
American companies desperate for Zim diamonds
01 Oct 2011 at 22:48hrs | Views
DESPITE spirited attempts by the US government to prevent Zimbabwe from exporting diamonds mined in Chiadzwa, American companies are running a desperate campaign to collect jewellery from the public following a sharp increase in demand for the gems on the international market.
Diamond dealers in parts of the United States are running advertisements asking members of the public to bring forward earrings, bracelets and necklaces, among other items manufactured from the precious stones.
In one such advertisement posted in a recent edition of the Wall Street Journal, CIRCA Jewels uses high prices to woo prospective sellers.
Part of the advertisement reads: "As international demand continues to outpace supply, there's never been a better time to sell the diamonds that you no longer wear.
"CIRCA is the leading global buyer of diamonds and jewellery from the public, and the only firm with the size and market reach to help you obtain the best prices for your jewels."
Ironically, the US has been at the forefront of dissuading the Kimberley Process Certification Scheme (KPCS) from giving Zimbabwe the green light to export its diamonds.
In June this year, KP chairman Mr Mathieu Yamba granted Zimbabwe the permission to sell the diamonds unconditionally, a development that the US condemned.
Washington issued a statement expressing "deep disappointment" with the outcome.
"The KP chair's notice that unsupervised exports could resume did not reflect the consensus of KP participants," read part of the statement.
Reports say Zimbabwe has the potential to meet 25 percent of global diamond demand.
This was confirmed by Israeli gemstone consultant Mr Chaim Even-Zohar during an intercessory meeting of the KP in Tel Aviv last year.
Mr Even-Zohar told the KP that Zimbabwe was becoming a vitally important player in the diamond business.
He said the KP must, therefore, make every effort to ensure Zimbabwe remains a member of this certification scheme.
Diamond dealers in parts of the United States are running advertisements asking members of the public to bring forward earrings, bracelets and necklaces, among other items manufactured from the precious stones.
In one such advertisement posted in a recent edition of the Wall Street Journal, CIRCA Jewels uses high prices to woo prospective sellers.
Part of the advertisement reads: "As international demand continues to outpace supply, there's never been a better time to sell the diamonds that you no longer wear.
"CIRCA is the leading global buyer of diamonds and jewellery from the public, and the only firm with the size and market reach to help you obtain the best prices for your jewels."
In June this year, KP chairman Mr Mathieu Yamba granted Zimbabwe the permission to sell the diamonds unconditionally, a development that the US condemned.
Washington issued a statement expressing "deep disappointment" with the outcome.
"The KP chair's notice that unsupervised exports could resume did not reflect the consensus of KP participants," read part of the statement.
Reports say Zimbabwe has the potential to meet 25 percent of global diamond demand.
This was confirmed by Israeli gemstone consultant Mr Chaim Even-Zohar during an intercessory meeting of the KP in Tel Aviv last year.
Mr Even-Zohar told the KP that Zimbabwe was becoming a vitally important player in the diamond business.
He said the KP must, therefore, make every effort to ensure Zimbabwe remains a member of this certification scheme.
Source - The Sunday Mail
