The Herald (Harare)

Zimbabwe: All Set for ZMDC Diamond Sale to EU

Zimbabwe's first sale of diamonds to the European Union is imminent, with officials from the Antwerp currently sorting a float which the Zimbabwe Mining Development Corporation intends to sell.

ZMDC general manager Mr Jerry Ndlovu confirmed in an interview yesterday that the sorting process had started but refused to divulge further details as the matter was "sensitive and cannot be discussed over the phone".

The EU lifted sanctions on ZMDC, a State-owned mining entity involved in the extraction of diamonds in Chiadzwa under partnerships with different foreign investors.

Zimbabwe has been unable to export its gems to the EU due to sanctions the block imposed on the country.

Zimbabwe is expected to produce 16,9 million carats this year. Last year, it produced 8 million carats, generating US$685 million of revenue. According to the EU, the lifting sanctions could boost Zimbabwe's tax revenue by US$400 million.

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