Staff Reporter

Zimbabwe, serving as the Chair of ADPA, has hosted a crucial three-day conference in Harare, bringing together diamond-producing countries to review progress and strategize for future growth.

African Governments have made significant strides in advancing the continent’s diamond industry by adhering to global best practices.

Speaking on the occasion, Ministry of Mines and Mining Development Permanent Secretary, Mr. Pfungwa Kunaka emphasized the significance of compliance in building a stronger diamond sector across the continent.

“Africa has faced challenges in mining and trading diamonds due to compliance issues. As ADPA, we meet annually to assess the measures we’ve taken to resolve these issues.

“In Zimbabwe, compliance with KPCS has contributed to notable gains in diamond production and trade. The nation now produces six million carats of diamonds annually, and with a targeted focus on eliminating middlemen in transactions, the country is ensuring it receives fair market value for its resources,” Kunaka explained.

Kunaka highlighted that the reliance on middlemen has led to significant losses, but by attracting reputable buyers directly, we have been able to capture greater value.

“Currently, our four diamond-producing companies are generating six million carats annually, and we have set a target of reaching 10 million carats in the near future.”

“This progress is a testament to the positive impact of compliance and cooperation among African diamond-producing countries, as they work towards maximizing the benefits of their natural resources on the global stage,” said Kunaka.

Meanwhile, Despite being home to some of the world's largest diamond producers, African nations have historically struggled to maximize the value of their precious resources. Compliance issues in production and marketing, particularly under the Kimberly Process Certification Scheme (KPCS), have hampered the industry’s growth.

In response, the Africa Diamond Producers Association (ADPA) was formed to streamline trade and production in alignment with international standards.

Zimbabwe’s adherence to the Kimberly Process is significant. By focusing on boosting production and aligning with global standards, the Government aims to build a $3 billion diamond industry, contributing significantly to the nation’s economy.