Sale of Marange Diamonds
In 2010 Zimbabwe's High Court ruled that the government could sell Marange diamonds. International pressure group Global Witness warned Zimbabwe against selling diamonds until the government complied with plans agreed with diamond monitors, the Kimberley Process to reform mining at Marange. In June 2010 the Kimberley Process monitor appointed to review procedures and conditions at Marange reported that, "Based on evidence provided by the government of Zimbabwe and private investors, and on...first-hand assessment of the situation, Zimbabwe has satisfied the minimum requirements of the KPCS for trade in rough diamonds".
In September 2010, the Zimbabwe High Court formally revoked a ruling from a year earlier that restored mining rights to British-based, African Consolidated Resources Plc.
In August 2010 Zimbabwe resumed the sale of diamonds from the Marange fields. On August 11, buyers flew into the country's capital, Harare, from all over the world, including Israel, India, Lebanon and Russia to capitalise on the sale of over US$1.5 billion worth of diamonds. Press Reports describe the Marange find as, 'the biggest in southern Africa since diamonds were discovered in South Africa a century ago'.
Read more about this topic: Marange Diamond Fields
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