News / Local
Zimbabwe to craft gemstone marketing framework
08 Jul 2024 at 11:37hrs | Views
The Government of Zimbabwe is developing a framework for marketing gemstones to address concerns over millions of US dollars being lost annually due to smuggling. The initiative includes crafting a gemstones development policy for semi-precious and colored stones, valued at US$2 billion annually in the country.
Reports have indicated illegal extraction of stones like amethyst, antimony, aventurine, beryl, talc, and aquamarine in regions such as Hurungwe and Karoi. These gemstones are often sold to unscrupulous buyers, bypassing official channels that ensure the country's benefit.
Permanent Secretary in the Ministry of Mines and Mining Development, Pfungwa Kunaka, highlighted ongoing efforts to create a robust marketing framework. This includes training miners in proper mining and valuation techniques.
The government is also considering introducing gemstone auctions to formalize the marketing process. Discussions are in early stages, and no specific timeframe for implementation has been set.
In 2019, Statutory Instrument 256 was enacted to regulate the mining of semi-precious stones, ensuring benefits for local communities. The Zimbabwe Miners Federation initiated the formation of the National Gemstones Miners Association to oversee small-scale mining operators.
The mining sector is a significant contributor to Zimbabwe's economy, accounting for over 75% of annual export receipts and 16% of the GDP.
Reports have indicated illegal extraction of stones like amethyst, antimony, aventurine, beryl, talc, and aquamarine in regions such as Hurungwe and Karoi. These gemstones are often sold to unscrupulous buyers, bypassing official channels that ensure the country's benefit.
Permanent Secretary in the Ministry of Mines and Mining Development, Pfungwa Kunaka, highlighted ongoing efforts to create a robust marketing framework. This includes training miners in proper mining and valuation techniques.
The government is also considering introducing gemstone auctions to formalize the marketing process. Discussions are in early stages, and no specific timeframe for implementation has been set.
In 2019, Statutory Instrument 256 was enacted to regulate the mining of semi-precious stones, ensuring benefits for local communities. The Zimbabwe Miners Federation initiated the formation of the National Gemstones Miners Association to oversee small-scale mining operators.
The mining sector is a significant contributor to Zimbabwe's economy, accounting for over 75% of annual export receipts and 16% of the GDP.
Source - The Herald
