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]