Kimberly Process OKs Zimbabwe Diamond Mine

By Joel ScanlonFeb 13 2012

The Kimberly Process has certified Zimbabwe based Diamond Mining Company to sell its diamonds from the controversial Marange fields. The blood diamonds from the Marange fields have been behind major upheavals faced by the international diamond watchdog in recent times.

Prince Mupazviriho, permanent secretary in the mines ministry announced to local media in the country that the firm which is a joint venture between the Zimbabwean government and a company in the United Arab Emirates was the fourth mine in the region that received approval from the Kimberly Process.

Philippe Mellier, De Beers chief executive officer said that the rough diamonds from Zimbabwe would not have much impact on demand for De Beers products. He said that the Zimbabwe stones were of a lower quality and certainly compared to the quality of diamonds that De Beers was offering. He thought that they could compete quite nicely with them.

The De Beers chief did not comment on the controversial decision of the Kimberly Process to allow the diamonds tainted by human rights issues to trade in the global market. He added that De Beers cannot prevent its sightholder clients from buying Zimbabwe goods as long as the goods are KP compliant and that the sightholders abide by De Beers best practice principles.