International Zimbabwe Diamond Conference 2012 to discuss challenges of African diamond industry

With the first international Zimbabwe Diamond Conference 2012 in Victoria Falls approaching in November, and key discussions planned on Africa’s diamond industry, some insights were shared into Africa’s contribution to the global diamond industry.

According to industry analyst and journalist Chaim Even-Zohar, in 2011, Africa accounted for 61 percent of the world’s diamond production by value and 56 percent by volume (carats), with the average African per carat value being second highest in the world (after Canada). Official government statistics note the 2011 worldwide average value for global diamond output at $113.66 per carat; the 15 African producing countries averaged $123.10 per carat.

Conference Organizer Prince Mupazviriho, Permanent Secretary of the Zimbabwe Ministry of Mines said, “looking at 2011, six African producers account for 98 percent of African volume and 93 percent of African output value. Most likely, all of these six countries will be actively represented at, or participating in, the Zimbabwe Diamond Conference 2012. It truly will be a major African diamond event.” Adding that Africa contributes to most of the global alluvial mining output, Mupazviriho said that the largest diamond mining company in the world, which operates mostly kimberlite operations, has 87 percent of its global workforce in Africa. He also noted that, “However, the 15 African producers may have a million or so workers, most of these are diggers in the informal sectors . The enormous diamond industry challenges which Africa faces have never before been addressed in an African diamond”.

According to an article in Forbes, Zimbabwe may at some point account for some 25 percent of global production. “If major mining companies would seriously explore Zimbabwe’s diamond potential, this will undoubtedly yield some exciting surprises, predicts Even-Zohar.

The Conference is slated on 12th and 13th of November and will be hosted by the Ministry of Mines of Zimbabwe. African mines ministers who have confirmed their presence include: Hon. Martin Kabwelulu Labilo, Minister of Mining of the Democratic Republic of Congo; Hon. Susan Shabangu, Minister of Mineral Resources of the Republic of South Africa, and Hon. Isak Katali, Minister of Mines and Energy of the Republic of Namibia. Registration for the conference begins 18th of September 2012.