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Zimbabwe May Get The Chance To Sell Their Diamonds

7/18/2010 6:53:25 AM  Simona Kogan

A new regulation may allow Zimbabwe to start selling some of its diamonds, but groups are still questioning whether they are "blood diamonds."

For months, Zimbabwe has asked to be allowed to sell diamonds from places such as its Marange field to generate revenue for its lackluster economy. 

However, the diamond fields have reportedly been prone to violence between security forces and workers.  The fields were taken over by government security forces in 2008 and up to 200 people may have been killed while working in its mines. 

The Kimberley Process, a group developed in 2002 to regulate the trade of diamonds in Africa and prevent the sale of diamonds mined in war zones and sold to finance war efforts, has now agreed it may start allowing Zimbabwe to sell some of its wares.

Currently, the group has blocked sales from fields in eastern Zimbabwe after reports of military abuse and forced labour. They are only considering about opening the fields, pending review. Zimbabwe president and main controller of the country's security forces Robert Mugabe is unhappy with this, stating the group is determined to keep Zimbabwe poor.  He has threatened to sell diamonds on the black market if the Kimberley Process fails to allow sales from the diamonds in the Marange fields.

The Kimberley Process is still not completely certain the diamonds fields are run properly. A full inspection and review of the fields will take place in September and if the results are good, the Kimberley Process may just give the country full rights to trade diamonds without drawbacks or limits.  Human rights groups continue to actively call for strict monitoring of the fields.
It's been reported that Zimbabwe has the potential to be the world's sixth greatest diamond exporter.  Diamonds from the Marange fields were only discovered in 2006. 

Mining is Zimbabwe's main earner of foreign currency.



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