Zimbabwe is Committed to Maximizing Diamond Value, Minister Zhemu Soda Affirms
Zimbabwe is dedicated to ensuring it maximizes the value derived from its diamond resources by promoting local beneficiation and value-addition initiatives, as stated by the Minister of Mines and Mining Development, Hon Zhemu Soda.
Delivering a keynote address at the 9th General Meeting of the African Diamond Producers Association (ADPA) Council of Ministers, Minister Soda mentioned that the Zimbabwe has set a 10% quota policy for local diamond-cutting and polishing companies, proving successful in creating jobs and fostering growth in the diamond chain in Zimbabwe.
“We are dedicated to maximizing the value derived from our diamond resources by promoting local beneficiation and value-addition initiatives. Zimbabwe has set a 10% quota policy for local diamond-cutting and polishing companies. This initiative has created jobs and fostered economic diversification,” Hon Soda said.
Minister Soda also applauded ADPA for organizing the Council of Ministers meeting, providing an opportunity for knowledge sharing on best practices in the diamond sector.
He emphasized that Africa should take a leading role in promoting value addition and beneficiation of diamonds, stating, “As diamond producers, we should be the leaders in the value addition of our mineral resources. It is time that we take a leading role not as producers of rough diamonds but suppliers of cut and polished diamonds.”
Speaking at the same event, ADPA Executive Director Ella Muchemwa said the conference should come up with actionable takeaways. “The key takeaway is to have a list of actionable recommendations,” she said.
Zimbabwe recognizes the critical importance of a robust regulatory framework to ensure sustainable development and equitable distribution of benefits in the diamond sector.
The Zimbabwe Diamond Policy embodies the country’s commitment to transparency, accountability, and responsible diamond sourcing, with key pillars including transparency and accountability, sustainable development, beneficiation and value addition, community participation, and adherence to international best practices.
Zimbabwe remains committed to adhering to the best practices in the diamond sector and is open to learning and adapting to the requirements of this dynamic industry.