Staff Reporter
Vice President General (Retired) Dr. Constantino Chiwenga has underscored the need for value addition in Zimbabwe’s diamond industry to maximise export earnings.
He made these remarks during a visit to the Zimbabwe Consolidated Diamond Mining Company (ZCDC) in Chiadzwa last Wednesday.
VP Chiwenga commended ZCDC’s investments in cutting-edge technology while addressing the challenges and opportunities in the diamond sector.
“The diamond industry is dynamic, presenting both unprecedented challenges and opportunities. One of the key challenges is the global downturn in rough diamond prices, which has impacted profitability. Mining companies must shift focus to value addition, as there’s no reason we cannot process our diamonds locally,” he said.
The Deputy Minister of Mines and Mining Development, Honourable Polite Kambamura, echoed this sentiment, highlighting the importance of refining Zimbabwe’s diamond production.
“These facilities demonstrate a commitment to excellence in processing and showcase the immense potential within the mining sector, as envisioned by President Mnangagwa,” he noted.
Manicaland Minister of State for Provincial Affairs and Devolution, Advocate Misheck Mugadza, expressed gratitude for the unwavering support from the President.
“President Mnangagwa’s commitment to the mining sector has empowered companies like ZCDC to withstand external pressures and ensure our nation benefits from its God-given resources. This progress also contributes significantly to growing Manicaland’s GDP,” he said.
Zimbabwe’s mining sector is a cornerstone of the economy, contributing approximately 12% to GDP and 80% of export earnings.
The push for value addition aligns with the government’s broader vision of increasing revenue from natural resources while creating jobs and fostering economic growth.
The ZCDC’s strides in technological advancements and processing facilities are seen as a step toward achieving this goal. By refining diamonds locally, Zimbabwe aims to capture more value from its resources, reducing reliance on raw exports and increasing global competitiveness.
As the Government continues to prioritise resource beneficiation, Zimbabwe’s diamond industry stands poised to become a significant driver of the nation’s economic transformation.
