News / National
Zimbabwe approves 19 diamond cutting licences
22 May 2012 at 11:22hrs | Views
The Ministry of Mines and Mining Development says at least 19 diamond cutting and processing licenses has been approved to date as government intensifies efforts towards value addition and beneficiation of the gemstones.
The approval of the 19 diamond cutting and processing licenses is in line with government's strategy under the recently launched Industrial Development Policy whose key objective is to ensure that the country adopt value addition in all key strategic sectors.
In a speech during a one day stakeholders' meeting on Zimbabwe Diamonds and Kimberley Process organised by the local Civil Society, Permanent Secretary in the Ministry of Mines and Mining Development, Prince Mupazviriho said the firms are required to consider locals in terms of employment.
Mupazviriho also highlighted that the Zimbabwe Diamond Policy is set for approval before the end of this month.
The diamond policy expected to ensure maximum contribution of the diamond sector to the growth of the economy by emphasising the need for value addition.
The country which is estimated to account for at least 25% of the global supply of rough diamonds resumed issuing diamond cutting and processing licenses this year after it had halted the issuance last year following allegations that companies who had been awarded licenses were exporting rough diamonds instead of value adding them.
The approval of the 19 diamond cutting and processing licenses is in line with government's strategy under the recently launched Industrial Development Policy whose key objective is to ensure that the country adopt value addition in all key strategic sectors.
In a speech during a one day stakeholders' meeting on Zimbabwe Diamonds and Kimberley Process organised by the local Civil Society, Permanent Secretary in the Ministry of Mines and Mining Development, Prince Mupazviriho said the firms are required to consider locals in terms of employment.
The diamond policy expected to ensure maximum contribution of the diamond sector to the growth of the economy by emphasising the need for value addition.
The country which is estimated to account for at least 25% of the global supply of rough diamonds resumed issuing diamond cutting and processing licenses this year after it had halted the issuance last year following allegations that companies who had been awarded licenses were exporting rough diamonds instead of value adding them.
Source - zbc
