Zimbabwe & Botswana Nearing Deal on Diamond Polishing

15/02/2018 09:39

Zimbabwe is on the brink of clinching a deal with Botswana to start processing its diamonds at the world renowned Diamond Trading Company (DTC), writes The Herald - Zimbabwe. Following Zimbabwe's new President Mnangagwa's two-day official visit to Botswana, where he continued to emphasise his theme that Zimbabwe is 'Open for Business', it was announced that the arrangement will see Zimbabwe shipping its diamonds to Botswana for processing, cleaning and polishing before the gems are placed on the market. It is anticipated that taking advantage of Botswana’s expertise will benefit Zimbabwe's diamond trade, which has been selling its diamonds at prices around $50 per carat, although there is potential to get much higher earnings, the paper writes. 

Speaking during a tour of DTC in Gaborone, President Mnangagwa said talks were at an advanced stage for the two countries to seal the agreement. He said the arrangement is part of a broader policy to come up with a diamond policy for Zimbabwe. “In Zimbabwe, yes we have diamonds, but we do not really have a diamond policy. We are now crafting the policy, discussing with Botswana, Namibia and Angola to assist us in formulating a diamond policy for Zimbabwe. “But currently, there is discussion between my Minister of Mines and the young man here (Botswana’s Minister of Mines, Advocate Sadique Kebonang) so that we bring our diamonds from Zimbabwe to be processed here,” he said.

President Mnangagwa said Zimbabwe had a lot to learn from Botswana’s expertise in the diamond industry. "I am so impressed with the level of technology and advanced processing that takes place here. I was holding one piece of stone estimated to the value of US$11 million. It is really an experience. I am also aware that here, they also process diamond from South Africa and from even as far afield as Canada which speaks volumes about the quality of this centre. We are very proud as Africans, and we are very proud as Sadc that we have such technology.”