Kimberley Process Chair visits the Republic of Mozambique

kimberly-process

The UAE Kimberley Process Chair, Ahmed Bin Sulayem, visited the Republic of Mozambique as part of his African tour to increase dialogue with African countries around the rough diamond trade and strengthening the Kimberley Process’ mandate.

Bin Sulayem met with a number of Mozambique’s senior government and army officials, including President Filipe Nyusi; Prime Minister Carlos Agostinho do Rosário; the Permanent Secretary to the Minister of Culture and Tourism, Domingos Artur; and the Chief of Staff of the Army and Defence Forces.

His talks with President Nyusi and the other senior officials centred on the government’s progress towards compliance with the Kimberley Process’ requirements, as well as best practices in rough diamond valuation. In recognition of his efforts, Bin Sulayem was commended with the Army and Defence Forces Plaque at their General Headquarters in Maputo on 1 November 2016.

Mozambique is not currently a member of the Kimberley Process, but it is an aspiring candidate since it presented its membership portfolio back in 2012.

Following the discovery of diamonds earlier this year in the Massangena district (Gaza Province), local authorities have undertaken efforts to garner more support for its candidacy in order to get clearance to export its conflict-free diamonds. While the country’s economy remains heavily dependent on agriculture accounting for around 25% of the total GDP, the export of precious metals and gemstones is emerging as one of the country’s major economic pillars. The discovery of diamonds will add to this vibrant sector, but the size of the Mozambican diamond resources remain undeclared for security reasons.

The country currently faces difficult headwinds that are further aggravated by regional drought, falling investments levels, as well as rising debt levels. According to the Mozambique Economic Update (MEU) report, foreign direct investment fell by 24% in 2015, exports declined by 14%, and growth decelerated to 6.3%. There is a need for foreign direct investment to accelerate the country’s significant, untapped potential.

Today, it is reported that several international mining companies have joined the country’s diamond exploration rush. And as such, receiving the Kimberley Process approval stamp would allow the country to export diamonds and spur its economy.

“For years, the precious metals and gemstones sectors have been among the main drivers of the country’s growth and given the challenging economic conditions today, it is now more important than ever to extend our support to the Mozambican leaders to help them meet the KPCS requirements. At this stage, it is critical to ensure they have a firm understanding of best practices in rough diamond valuation thus stimulating better returns for the local population and miners, as well as provide them with a fair share of the country’s newly-found wealth”, said Bin Sulayem.

In a bid to strengthen the country’s Kimberley Process candidacy and support its application, the Mozambican government has approved a number of

measures expected to enter into effect on 20 November. These include the creation of a supervising agency, the Kimberley Process Management Unit, and a decree which regulates diamond, precious metals, and gem sales.

Source: Diamond World
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