The diamond industry in Zimbabwe is on a downward spiral: the country’s diamond production declined by 76% since the government’s acquisition of the Marange fields, according to a report in the Daily News, quoted by IDEX Online.
Zimbabwe’s central bank released information that showed diamond output declined to 152,475 carats in the first quarter of the year, compared to 639,377 carats in the same period in 2015.
The Zimbabwe Consolidated Diamond Company (ZCDC) has received criticism for its perceived mishandling of several aspects of the Zimbabwean diamond production, including the original cancellation of the previous diamond companies’ licenses.
