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Zimbabwe poised to be world's third largest diamond producer


English.news.cn   2011-12-25 07:48:34

HARARE, Dec. 24 (Xinhua) -- Zimbabwe is poised to become the world's third
largest diamond producer by the end of this decade as production continues
to soar, state media New Ziana reported on Saturday.

The country which is currently the seventh largest producer in the world has
potential to supply 25 percent of global demand.

Currently the country has got four diamond mining firms operating in the
Chiadzwa fields namely Marange Resources, Mbada Diamonds, Anjin and Diamond
Mining Corporation.

The Kimberly Process Certification System recently rated Anjin was recently
certified as the biggest diamond mining firm in the world.

Western countries led by the United States have been battling to block
Zimbabwe from selling its diamonds in order to sustain effects of illegal
economic sanctions that they imposed on the country in retribution for
expropriating land from former white commercial farmers.

The country stands to earn more than 2 billion U.S. dollars per year from
the three Marange mines that have been permitted to sell so far.

According to the Diamond Industry Report for 2011, Zimbabwe's diamond output
would continue to grow. "In the last three years, Zimbabwe has become a
significant diamond producer and is forecast to become a top-three producer
by the end of this decade," the report said.

"With the changing environment in Zimbabwe, the international community is
slowly beginning to accept Zimbabwe back into the fold. Diamonds from
Zimbabwe which had been excluded from the markets in the last two years are
slowly making a comeback."

The report said despite efforts to stop Zimbabwe from marketing her gems
production continued to grow.

"Exclusion from the international diamond markets has not deterred Zimbabwe
from producing diamonds and production has been increasing exponentially
after formalization of diamond mining in the Marange area," said the report.

Currently Botswana is the top diamond producing nation in the world by value
followed by Russia and Canada.

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