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EU Lifts Sanctions on Zimbabwe Mining Development Corp.

Sep 24, 2013 12:53 PM   By AWDC
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Press release:  Today the Antwerp World Diamond Centre (AWDC) received noticed from the Federal Public Service Economy that European Union (EU) sanctions on the Zimbabwe Mining Development Corporation (ZMDC) were lifted. Rough diamonds with Kimberley Process Certificates will be permitted into the EU beginning September 25, 2013.

The notice: “The European Commission (EU) has informed us that the COMMISSION IMPLEMENTING REGULATION (EU) No. 915/2013 of 23 September 2013, amending Council Regulation (EC) No. 314/2004 concerning certain restrictive measures in respect of Zimbabwe has been published.

''This amendment has been published in the Official Journal of the EU, nr L252/23 of September 24, 2013.  Please be advised that annex III to Regulation (EC) No. 314/2004 is amended as follows. The following entry is deleted from the heading ‘II. Entities,' Zimbabwe Mining Development Corporation.

''Therefore imports of rough diamonds into the European Union from this entity are allowed from September 25, 2013 onwards.

''Imports from the other companies linked to this entity are also allowed:
- Marange Resources
- Canadile
- Mbada Diamonds
- Kimberworth Investments
- Diamond Mining Corporation (DMC)''

The rough diamonds have to be packed in a tamper resistant container and accompanied by a valid Kimberley Process Certificate for entry into the EU. As the world’s most important trade center in rough diamonds the AWDC has always respected the EU restrictive measures. Thanks to the support of the Belgian authorities, the decision to lift the restrictive measures will result in diamonds commercialized by the Minerals Marketing Corporation of Zimbabwe (MMCZ), to be sold at their optimal market value instead of the current lower prices in other markets.

This opening of the market for Antwerp based trading companies should have a positive impact on the functioning of the market, mining income, on the necessary market transparency and importantly on a sustainable social and economic development of Zimbabwe. In addition, this decision will also improve the position of the EU within the Kimberley Process Certification Scheme (KPCS). The EU decision to maintain restrictive measures was incompatible with the decision taken at the KPCS plenary meeting on November 30, 2012, to lift all measures on the trade of Marange diamonds.

About

AWDC, short for Antwerp World Diamond Centre, is an industry-established foundation, whose mission is to serve and support the diamond business in Antwerp, the world's most important diamond trade hub. AWDC is the coordinating body and the official representative of the Antwerp diamond sector, and as such are recognized internationally as the host, spokesperson and intermediary for the Belgian diamond community. In this capacity, AWDC liaises on behalf of the Belgian diamond sector with governments and actively promotes support for the diamond sector at home and abroad.  Eighty-four percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp. Diamonds represent 5 percent of the total Belgian exports and 15 percent of all Belgian exports outside the EU, making diamonds the most important export product outside the EU.


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Tags: Antwerp, AWDC, EU, sanctions, Zimbabwe
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