Thursday, January 27, 2011

Zimbabwe May Allow Angolan Companies to Explore for Diamonds

The governments of Zimbabwe and Angola might reach an agreement to allow Angolan diamond companies to explore for diamonds in Zimbabwe, the head of a diamond industry delegation currently visiting Angola said Wednesday.

The AngolaPress news website reports that following a meeting with the Angolan Development Bank's board of directors, Ozias Hove told press that the "good friendship ties" existing between Angola and Zimbabwe could allow such an arrangement.

During its visit to Angola, the Zimbabwe delegation visited the headquarters of Angola's government-owned diamond company, Endiama, and Endiama's commercial subsidiary, Sodiam. The delegation's visit is scheduled to end today after a visit to a diamond manufacturing facility south of Luanda.

Angola, which lies northwest of Zimbabwe, is one of the world's top diamond producing nations. The Kimberley Process Annual Global Summary for 2009 put Angola's output of rough diamonds at 13.8 million carats with a value of $1.17 billion.

Zimbabwe's diamonds have been under international boycott, but this month the Kimberley Process approved a modified version of the Jerusalem Agreement that clears the way for the country to resume diamond exports. Last year, a Belgian expert assessed that Zimbabwe could become the world's #1 diamond producer by 2013.


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