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South Africa's diamond regulator allows rough diamond imports from Zimbabwe

In a show of solidarity with Zimbabwe, the South African Diamond & Precious Metals Regulator (SAD-PMR) has issued a communiqué to its members saying that South Africa would now accept rough diamond imports from its northern neighbor, who faces a continued international ban on its rough exports from the Marange alluvial diamond area.

"South Africa has taken a position in support of Zimbabwe regarding exports of rough diamonds. On that note, we will accept imports of rough diamonds from Zimbabwe," says the communiqué, as quoted by Zimbabwe's Financial Gazette.

"These are to be treated like any other import of rough diamonds from any of Kimberley Process Certification Scheme (KPCS) participants and therefore the usual import and export processes and procedures are to be followed," says the SAD-PMR statement, as cited by the Financial Gazette. The communiqué was reportedly signed by Dithuso Kgari, who heads the organization's KP corporate communications.

SAD-PMR's position supports KP Chairman Mathieu Yamba's unilateral decision to allow Zimbabwe to export its Marange diamonds despite a lack of consensus within the KP for such a resolution.

Time will tell if other trading centers will follow SAD-PMR's lead in breaking the current stalemate of Zimbabwe's rough exports.  While a number of KP Participants have voiced disapproval of Yamba's March decision, others in the industry have called for the KP to resolve its internal discord regarding Zimbabwe and allow for the resumption of exports.

 

Available: http://www.diamondintelligence.com/magazine/magazine.aspx?id=9587

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