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December 16, 2024Zimbabwe’s Vice President Chiwenga urges diamond value-addition to boost exports
During a visit to the Zimbabwe Consolidated Diamond Mining Company (ZCDC) in Chiadzwa last week, VICE-PRESIDENT Constantino Chiwenga has underscored the need for value-addition in Zimbabwe’s diamond industry to maximise export earnings. He commended ZCDC’s investments in cutting-edge technology while addressing the challenges in the diamond sector.
Zimbabwe’s mining sector is the cornerstone of the economy, contributing approximately 12% to GDP and 80% of export earnings. The push for value-addition aligns with the government’s broader vision of increasing revenue from natural resources while creating jobs and fostering economic growth.
ZCDC’s strides in technological advancements and processing facilities are seen as a step towards achieving this goal. By refining diamonds locally, Zimbabwe aims to capture more value from its resources, reducing reliance on raw exports and increasing global competitiveness.
As the government continues to prioritise resource beneficiation, Zimbabwe’s diamond industry stands poised to become a significant driver of the nation’s economic transformation.
