Maravi

(TALKZIMBABWE) Zimbabwe diamond firms added to US sanctions list

Zimbabwe diamond firms added to US sanctions list
Posted by By Our reporter at 13 December, at 01 : 02 AM

The United States has added Zimbabwe diamond firms, Mbada Diamonds and Marange Resources, to its list of sanctioned entities, the Department of the Treasury stated on Monday.

The Treasury’s Office of Foreign Assets Control (OFAC) updated its ‘specially designated nationals list to include the two companies, which operate diamond mines in Zimbabwe’s Marange fields.

The listing extends to any aliases they might operate under, including Block Wood Mining and Condurango Investments.

Sanctioning these companies follows the recent decision by the Kimberley Process to allow diamond exports from the Marange Resources and Mbada Diamonds respective mines.


Marange Resources and Mbada Diamonds both operate their Marange mines in a joint venture with the Zimbabwe Mining Development Corporation (ZMDC), a state owned company which was already on the OFAC list.

Another diamond mining company operating in Marange, the Chinese-owned Anjin, which was also recently given KP approval to export its rough diamonds, was not included on the updated OFAC Specially Designated Nationals (SDN) list.

U.S. citizens are prohibited from dealing with individuals or companies on the expansive list.

As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries and lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.

Labels: DIAMONDS, SANCTIONS

posted by MrK @ 2:28 PM