Zimbabwe: Political row to intensify over diamond sale profits

source: SW Radio Africa
By Alex Bell
12 August 2010

A political row over control of the country’s diamond revenue is expected to intensify, after Wednesday’s multi-million dollar sale of the controversial Chiadzwa stones.

Buyers from the US, Israel, Russia, Lebanon and India jetted into Zimbabwe this week for the auction, which saw 900 000 carats of Chiadzwa diamonds go on sale. The stones were certified for legal trade by the Kimberley Process monitor Abbey Chikane, but represent only an estimated quarter of the stockpile the Mines Ministry has been waiting to sell.

The auction nonetheless still brought in about $70 million, but who the profits will benefit is still of concern. Speaking at the auction, Prime Minister Morgan Tsvangirai said the government was working on ‘modalities’ to ensure that Zimbabweans benefited from [continue reading]

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  1. Christian Allard

    We heard that Zimbabwe is endowed with serious mining resources, but these are just benefiting outsiders, the multi-nationals that own these mines.
    Before complaining about African politicians benefiting from the sale of a few diamonds, have a look at my own member of the UK parliament and understand that politicians have benefited from the sale of diamonds from Zimbabwe for more than half a century, they just weren’t Zimbabweans:

    Blood money: the MPs cashing in on Zimbabwe’s misery
    …Robert Smith, Lib Dem MP for Aberdeenshire West & Kincardine, has shares in Rio Tinto and Shell…
    http://www.independent.co.uk/news/uk/politics/blood-money-the-mps-cashing-in-on-zimbabwes-misery-856583.html






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