Zimbabwe Diamond Mines Declare Dividends

The government has shares in the two companies through the Zimbabwe Mining Development Corporation (ZMDC). The declaration of the dividend comes at a time when the Kimberley Process Certification Scheme (KPCS) licenced the partial sale of Marange diamonds.

Figures released by the Mines ministry showed that Mbada diamond mine declared a dividend of US 24, 438, 457 to the government while Canadile declared US 5,568,174.

Zimbabwe Marange diamonds have been at the centre of the KPCS meetings which recently gave the country the go-ahead in selling the precious gems after reports of human rights abuses in the area when there was a diamond rush in 2006 to 2008.

The government then moved soldiers and security personnel who were accused of perpetrating human rights abuses but the government has denied the reports.

The KPCS has recommended that government pull out army personell gurading the vast diamond field in Marange but the government has said they will only move out after the companies licenced in the area have stationed enough security.

Finance minister, Tendai Biti this year said the country was sitting on diamonds worth US$1.7 billion dollars while diamonds worth US$ 30 million dollars were sold outside proper channels adding that the government had no record of the sale and funds in treasury.