Zimbabwe to Nationalise Diamonds

IRJ -- July 25 -- The government of Zimbabwe has approved a policy that will enforce the government’s ownership of diamonds.

 

The announcement was made by Finance minister Tendai Biti in his mid-term fiscal review.

 

He also announced the government approval of the enactment of the Diamond Exploration Act prohibiting the exportation of rough diamonds. An additional move, mandated in a clause of a finance bill gazetted late last week, gives officers from the Zimbabwe Revenue Authority the authority to inspect any diamond mine in the country.