Business

US imposes sanctions on two Zim diamond miners

Staff Reporter

Two Zimbabwean diamond companies operating in the controversial Marange fields have been added to the US' list of sanctioned entities.

Two Zimbabwean diamond companies operating in the controversial Marange fields have been added to the US’ list of sanctioned entities, it emerged on Tuesday.

The Treasury’s Office of Foreign Assets Control (OFAC) updated its specially designated nationals list to include the companies—Mbada Diamonds and Marange Resources.

Both companies operate their Marange mines in a joint venture with the Zimbabwe Mining Development Corporation, a state-owned company which is already on the OFAC list.

US citizens are prohibited from dealing with individuals or companies on the OFAC list.

The inclusion of the companies on the list comes just weeks after the Kimberley Process decided to allow Zimbabwe to export diamonds from the Marange region.

Blood diamonds
Many civic groups have criticised the Kimberly Process’s decision, saying the decision has made a farce of its certification scheme that aimed to curtail trade of blood diamonds.

Blood diamonds have fuelled civil wars in many African countries and the human rights abuses reported at Marange has earned the diamonds it yields the same status.

As recently as the end of August this year, Human Rights Watch reported that there were still “rampant abuses” taking place in the Marange diamond fields.

Zimbabwe’s mines ministry has been tasked with leading the way for the country’s economic recovery project, which envisions its mining sector contributing in excess of 50% of its GDP.—I-Net Bridge

Topics In This Section

Comments

blog comments powered by Disqus