Zimbabwe Makes Diamond Deal with India

Surat Rough Diamond Sourcing India Ltd (SRDSIL) and representatives of Zimbabwe Diamond Consortium (ZDC) have signed a $1.2 billion deal in Harare.

The consortium of diamond barons from Surat in Gujrat have agreed to provide a steady demand to the Zimbabwe production and a supply to the polishing and marketing business.

The deal will see the Gujrat based diamond industry providing training facilities to create 1,000 skilled diamond polishing artisans in Zimbabwe. They are well equipped for the task as more than 90% of the world's diamonds are said to be cut and polished in Surat.

Mines and Mining Development permanent secretary Mr Thankful Musukutwa said that the Zimbabwe government is planning to undertake an aeromagnetic survey of the Eastern Highlands to try and determine the exact diamond reserves present in the Manicaland province.

The geophysical survey is carried out using a magnetometer aboard an aircraft or towed behind the aircraft. The government presently estimates that an area of 77,000 hectares around Marange shows potential for diamonds but the real size of the deposits are as yet unknown.