The Second Dubai Diamond Conference opened on Tuesday with a range of diamond industry players praising the city 's transition in just a decade in to a major international diamond trading hub.
Among the key speakers was Zimbabwe's Mines and Mining Development Minister, Walter Chidhakwa, who outlined his government's recently announced plans to consolidate diamond mining firms into one company.
The mining company , to be called the Zimbabwe Consolidated Diamond Mining Company (ZCDMC), would be 50 percent owned by the government and the other share would be apportioned on a proportional basis to the amalgamated companies -- based on their relative contribution to the larger firm , Diamonds.net reported .
Chidhakwa said that Zimbabwe reached the decision to semi-nationalize and consolidate the diamond mining companies that operate in the Marange fields in response to their failure to invest sufficiently in transitioning from alluvial production to kimberlite mining activities. He said that Zimbabwe has between 105 and 159 kimberlite pipes that haven't yet been properly explored for their diamond-bearing potential.
"We have told them, 'come, be a part of the company that will own all of the diamond resources in Zimbabwe,'" Chidhakwa said. He added, "Alluvial diamond mining [in the Marange area ] was just the beginning of a process. Zimbabwe will find its real place in the diamond industry from the kimberlites [yet to be discovered] ."
Meanwhile, South Africa's Mineral Resources Minister, Ngoako Ramatlhodi, praised the long relationship between the United Arab Emirates and the black Afr ican leaders of southern Africa .
He said that the historical ties could foster Dubai's continued development as an i mportant diamond trading center .
