Zimbabwe to build diamond centre in Manicaland – Chidhakwa

via Govt to build diamond centre in Manicaland – Chidhakwa | The Source June 4, 2014

Government will construct a diamond cutting and polishing centre in Manicaland after lobbying by the local industry, mines minister Walter Chidhakwa has said.

Zimbabwe already has plans to set up a “diamond zone” in Borrowdale which would house a local diamond auction house while cleaning, sorting, cutting and polishing would also be done within the zone.

Chidhakwa said a similar structure, on a smaller scale, would be built in Manicaland.

“There is no doubting the need to have a cutting and polishing centre in Manicaland. We are already planning it,” he told The Source this week.

Zimbabwe wants to hold diamond auctions locally, after the much-heralded Dubai diamond auctions did not go as planned, with the broker reportedly holding onto proceeds from the diamond sales.

Local miners eventually received all the funds.

The country auctioned nearly 400,000 carats worth $30 million at the Dubai Diamond Exchange (DDE) in March and has held two other auctions in Antwerp, Belgium.

“What we wanted to do is to sort out a standard structure that enables us to start trading our diamonds locally. We cannot stop construction for the facility in the capital but can have another one in that region (Manicaland),” said Chidhakwa.