‘Zim sold $500m worth of diamonds’

via ‘Zim sold $500m worth of diamonds’ – DailyNews Live 24 July 2014 by Maxwell Sibanda

HARARE – Zimbabwe has exported close to $0,5 billion worth of diamonds in the year to June 30, 2014, a new Kimberley Process Certificate Scheme (KPCS) report has revealed.

KPCS in a report released this week titled “Global Summary: 2013 Kimberly Process Certificate Count Table,” noted that local diamond mining companies exported a total of 9 564 277,33 diamond carats worth $448 635 917,56.

According to the report, Zimbabwe diamond exports were processed quarterly with the first selling 3 295 267 52 carats at a total cost of $132 758 885,59 while the second sale of 2 037 918,73 carats fetched $103 438 601,75 and the third auction of 2 255 066,43 realised $109 598 036,55.

The fourth sale of 1 976 025,25 carats fetched $102 840 393,67.

The diamonds were sold at varying prices with $40,29 being the average price in the first quarter, while $50.76, $48.60 and $52.04 were average prices for the second, third and fourth quarters respectively.

Despite such a projected haul from diamond revenues, Finance minister Patrick Chinamasa has said Treasury had not received a single cent.

There are six diamond mining firms in the Marange alluvial diamond fields in eastern Zimbabwe, mostly in partnership with the government’s Zimbabwe Mining Development Corporation.

The country also has privately operated mines — RioZim’s Murowa in Zvishavane, DTZ-OZGEO in Chimanimani and River Ranch in Beitbridge.

Mines minister Walter Chidakwa yesterday said he could not comment until he had acquainted himself with the report.

“I cannot say anything until I have read the document because I am not aware of the time periods mentioned in the document,” Chidhakwa said.

“I will give you a detailed comment after I have seen the report.”

Earlier this year, the Mines minister acknowledged that “Zimbabweans had not really got what they expected” in terms of proceeds from Marange.

Carolyn Francis, KPCS chair for the working group on statistics advised that the summary tables and charts for 2013 have been posted to the public area of the KP Rough Diamond Statistics Website.

“The tables contain information on production, trade and KPC counts,” Francis said.

“The tables currently available for 2013 include all data submitted or revised on the KP Rough Diamond Statistics Website on or before 01 July 2014.”

Francis says while every effort is made to ensure the data reported to them by participants was reliable and error free, it does not guarantee the “quality, accuracy or consistency of data presented.”

COMMENTS

WORDPRESS: 8
  • comment-avatar
    Reverend 6 years ago

    What about the $8 Billion stolen by Constantine Chiyangwa and his chinky pals?

  • comment-avatar
    Shamhu YeNhanzva 6 years ago

    This is great news! Does this mean we now have money to build schools, hospitals, fix our roads?

    What? What do you mean the money never made it to the treasury?

    • comment-avatar

      There’s no diamond money because of sanctions don’t you know?

  • comment-avatar

    Hurrah!! Wonderful news!!!there will be more posh cars driven by self serving Gucci clad, I- phone and I- pad carrying Ministers,MP’s and all their minions driving to their weekend farms and invading more of the same on our potholed roads.

    The “Masses” will be so pleased…..

    “What do you mean Harare Hospital has run out of drugs?

    Government has no money for that” says Government

  • comment-avatar
    Mlimo 6 years ago

    Note the money hasn’t hit treasury yet meaning it has already been diverted to private coffers. From my legal understanding a sale is only concluded when the buyer has paid and the seller has received so this is not a sale yet. It’s a pending sale. Now I am sure the Zimbabwean creditors overseas have blocked the transfer of funds to Zimbabwe pending their payment first which means that the money will never get into the country.

    • comment-avatar
      JRR56 6 years ago

      Ha Ha Ha.. Money paid but it never gooes back to Zimababwe, it rather goes into the Private ministerial sanctions accounts in Singapore, Dubai and or Malasia. Yep so far Diamonds have been that predicted curse on Zimbabwe.

  • comment-avatar
    Mukanya 6 years ago

    Monies finding its into private Zanu PF persons cannot be termed treasury revenue.

  • comment-avatar
    todii zvazvo 6 years ago

    Kimberly is confessing having witnessed sale of 500 million worth of diamonds.Chinamasa and crew are saying we only realised 11million from Belgium and 45 million from dubai.How wonderfull!A Total of around 430 million vanished into thin air.Zimbabweans is it not time we change our mindset of saying sanctions are stealing our diamonds and call a thief a thief.Please ndapota lets vote these people out before we are all sold to chinese as slaves to off set the countries debts.