Zimbabwe strikes diamond deal with Botswana

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By Staff Reporter

Zimbabwe has struck an agreement with Botswana to start processing its diamonds at the world renowned Diamond Trading Company (DTC) in Gaborone, in a game-changing development set to see the country attaining more value from the precious stones.

DTC is regarded as the world’s most sophisticated diamond sorting and valuing hub and the arrangement will see Zimbabwe shipping its diamonds to Botswana for processing, cleaning and polishing before the stones are put on the market.

It is anticipated that roping in Botswana’s expertise will augur well for Zimbabwe, which has been selling its diamonds at prices around us$50 per carat although there is potential to get much higher earnings from the gemstones.

Speaking during a tour of DTC in Gaborone today , President Emmerson Mnangagwa revealed that talks are at an advanced stage for the two countries to seal the agreement.

He said the arrangement is part of a broader policy to come up with a diamond policy for Zimbabwe.

He said Zimbabwe had a lot to learn from Botswana’s expertise in the diamond industry.

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