Mugabe opens Zimbabwe Diamond Conference

President Robert Mugabe has officially opened the second Zimbabwe Diamond Conference, amid calls for value addition of the mineral resource for the economic development of Zimbabwe.

In his speech at the Harare International Conference Centre (HICC), President Mugabe said Zimbabwe has become one of the leading international diamond producers and for the gems to play a pivotal role in the economic development of the country, they should be made to remain competitive, in both regional and global markets through value addition.

"The mining sector has been limited to extraction and exportation of minerals, in their raw or semi-processed form, without due care to beneficiation and value addition. I would like to challenge our experts to deliberately consider options to introduce existing and emerging technologies, derived from research and development, to make value addition and beneficiation a reality," said President Mugabe.

The President added that the country's ZIMASSET economic blueprint, which seeks to transform the lives of the ordinary citizens, is premised on the success of local mineral beneficiation and value addition.

"Local beneficiation and value addition of mineral commodities, enhancing value, resulting in more revenue for the communities, investors and government, and in accruing additional benefits such as employment and infrastructure development," said Mugabe.

He said the country reserves a minimum of 10 percent quota of all the rough diamond exports for local cutting and polishing, adding that the quota will be reviewed as the cutting and polishing industry, which is still in its infant stage, grows.

Mugabe updated the diamond conference participants on efforts by the Ministry of Mines and Mining Development to develop the site to house the diamond cutting and polishing companies, a Diamond Exchange and related diamond industry service providers.

He said Zimbabwe expects to witness much expansion of the diamond sector after the rationalisation of the diamond cutting and polishing licensing system, benefitting both government and the private companies, from the revenue of the business.

The 2014 Zimbabwe Diamond Conference, which is running under the theme: 'Completing Zimbabwe' Diamond Potential for the Future,' has attracted key stakeholders in the global diamond industry.

Among some of the high profile delegates attending the meeting are Dubai Diamond Centre Chairman, Mr Peter Meeus; Engineer Campos from Angola; World Diamond Council (WDC) President, Eli Izhakoff and former Kimberly Process Certification Scheme (KPCS) Chair, Abbey Chikane.