Zimbabwe To Amend Diamond Mining Laws

diamondThe government of Zimbabwe has announced that it will pass new amendments to the country’s laws that govern diamond industry operations in the country as soon as the parliament returns to active session, according to News Day, a Zimbabwean journal. The new amendments are expected to promote investment and development.

Zimbabwe Mines and Mining Development Minister Obert Mpofu announced the proposed amendments at a meeting of the Chamber of Mines, in a speech read by permanent secretary Prince Mupazviriho.

Mpofu said that the bill, which was crafted in consultation with various industry stakeholders and is currently being analyzed by legal experts, would guarantee the investments of developers, while at the same time certifying that developers carry out their plans, News Day reported.

The changes include new charges for exploration and claiming rights to mines. Mpofu stood by the decision to increase these fees, maintaining that the move would deter speculators.

Diamonds account for 3.4% of all minerals exported out of Zimbabwe, although Mpofu said that he believes that the diamond industry will ascend in prominence.

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