Thursday, December 17, 2009

(STICKY) (NEWZIMBABWE) De Beers wanted Zimbabwe ban

COMMENT - So it is De Beers and the Oppenheimer family who are using the Kimberley Process (think: "Blood Diamonds") to keep their competitors out of business. I suppose that is to be expected from an 'industry led initiative'. Why are the South African mines still in private hands?

De Beers wanted Zimbabwe ban
17/12/2009 00:00:00

DIAMOND giant De Beers has revealed for the first time that it would have preferred Zimbabwe’s suspension from the Kimberley Process (KP) at the diamond industry regulator's November meeting in Namibia.

De Beers chairman Nicky Oppenheimer said: “While De Beers would have preferred more decisive action including temporary suspension from the Kimberley Process, which would have effectively halted the country's export of diamonds until the issues in question were fully addressed, we also recognise the unique framework of governments, civil society and industry that the Kimberley Process represents, and the commitment by Zimbabwe not to export any diamonds from Marange until the monitoring programme is in place.”

The De Beers chairman said should Zimbabwe not comply with the 12-month monitoring and auditing programme adopted by the KP, more action should be taken against the country.

“We fully expect the Kimberley Process to take the further action it stipulated should no change in the situation on the ground be forthcoming by the end of the 12-month programme,” he added.

De Beers is the world’s largest diamond producer with the Oppenheimer family holding a controlling stake in the company.

Zimbabwe has recently engaged two South African companies to begin the mining of diamonds in Marange, while simultaneously withdrawing the army as recommended by the Kimberley Process.

Although a dispute continues over mining rights in the area, with a British company fighting for control in the courts, Finance Minister Tendai Biti announced on December 2 in his national budget that he expected a “substantial increase” in diamond output with diamond producers expected to reserve 10 percent of their production for the local cutting and polishing industry.

Labels: , , ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home