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Diamond buyers shun Zimbabwe

by Staff reporter
08 Nov 2018 at 06:55hrs | Views
Top diamond buyers across the world are shunning Zimbabwe due to delays emanating from a fight between the MMCZ and ZCDC for control of the marketing of the country's precious stones.

This has dealt a huge blow to confidence in Zimbabwe's diamond industry, which is yet to be cleaned up.

Meanwhile, the Zimbabwe Consolidated Diamond Company (ZCDC) has extracted 2,4 million carats (almost 0,5 tonne) in the first 10 months to October — and ploughed over $7 million back into the community.

ZCDC chief executive officer Dr Moris Mpofu, told The Herald Business in emailed responses that of the $7 million, the Marange Zimunya Community Share Ownership Trust got $5 million.

Source - Business Times