Lower Expectations for Zimbabwe Diamond Output

Zimbabwe Finance Minister Patrick Chinamasa is cautioning observers to dampen their expectations of the country's diamond industry because fewer rough stones than originally anticipated will be produced this year, Rough and Polished reports. Chinamasa said that instead of 12.5 million carats for the 2013 calendar year, the final tally will be just 11 million carats – yet originally, the country was expected to produce 16.9 million carats of rough diamonds on the year. The finance minister attributed the decrease to cost of transitioning from alluvial mining to subterranean mining.

If official government statistics are to be relied upon, 12 million carats of rough were extracted in 2012, but there are media reports which claim that this figure is actually closer to just 8 million carats. Chinamasa is now predicting that 2014 will see Zimbabwe produce 12 million carat once more. According to Chinamasa, the output will increase due to the European Union's decision to en sanctions against the Zimbabwe Mining Diamond Corporation.

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