KP's Brussels meeting to resolve Zimbabwe dispute

| Tuesday November 23, 2010 00:00

Consultations will take place between various members of the working group for monitoring at the one-day meeting, a Kimberley Process spokesperson explained. It was not yet clear how much of a role Zimbabwe would have in this meeting.

The working group for monitoring is hoping to finalise a suitable agreement with Zimbabwe which will allow the country to export its diamonds within the Kimberley Process framework, after discussions reached a stalemate at the annual plenary in Jerusalem earlier in November. Tensions increased when the Kimberley Process monitor for Zimbabwe, Abbey Chikane, visited the country and gave his approval for the sale of $160 million (four million carats) worth of rough diamonds.

Chikane has insisted that while the sale was made, the goods remain in the country waiting for a final agreement to be reached before they are exported.

Kimberley Process chairman Boaz Hirsch responded that no trade of Marange diamonds can currently take place until an agreement can be reached.

Meanwhile, mineral sales from Zimbabwe for the first nine months of 2010 rose 25 percent to $807.2 million, according to data from the  Minerals Marketing Corporation of Zimbabwe (MMCZ). Diamond exports grew 73 percent to $110 million and platinum exports doubled to $540 million, as reported by the nation's newspaper The Herald, citing MMCZ data. The MMCZ, as a matter of record, is sanctioned by the U.S. government.

Other exports from Zimbabwe for the January thro-¼ugh September period included nickel, coal and coke, copper sulphide, and chrome all of which registered triple-digit growth rates.

The Herald quoted chamber of mines executive  Chris Hokonya saying that projected growth of Zimbabwe's  mining sector this year was attainable at 40 percent and higher, but massive investments in platinum projects have been made. Nearly all gold mines have been reopened.

Zimbabwe has also experienced a number of foreign business delegations seeking opportunities in diamond mining, according to the newspaper. Delegations from Belgium and India were on the ground in the Marange to consider their options.-(Diamonds.net)