Zimbabwe diamonds cut no ice in Belgium
HARARE: Zimbabwe’s first diamond auction in Belgium got off to a slow start this week with most of the 279 723 carat gems being of low quality and not properly cleaned, a senior government official said .
The Zimbabwe mines ministry’s permanent secretary, Francis Gudyanga, said diamonds from five companies operating in the eastern Marange area had been sold for $10.7 million (R111m), of which 15 percent went to the government as royalties. DAKAR: Africa’s efforts to supply more of its booming demand for fuel are being dashed by fierce competition from foreign oil refiners and traders flooding the $80 billion (R850bn) market with imports.
African governments want more oil refineries to cut fuel import bills and get better value from the continent’s own crude.
But the investors they so badly need are either withdrawing or shifting their focus to trading or storage to take advantage of the region’s demand growth of around