It is reported that the Zimbabwean diamond state company Zimbabwe Consolidated Diamond Company (ZCDC) Adlecraft Mining has hired as a contractor for diamond mining in Marange region (Marange), because it does not have the capacity and resources to carry out such activities.
Zimbabwe Independent edition leads to an unnamed source said, who noted that ZCDC pays the owed amount for Adlecraft diamond services, rather than cash.
"The government of Zimbabwe has hastened plans to disperse all the old diamond companies (with their concessions), but the creation of ZCDC has not brought the desired results Against this background, it was decided to hire Adlecraft.", - says the source.
"In February, the two companies reached an agreement, and Adlecraft start diamond mining instead ZCDC They get paid in diamonds, not cash." - he continues.
Reportedly, the Minister of Mines Chidakva Walter (Walter Chidhakwa) noted that opposition Marange diamond companies to associate with ZCDC caused the lack of capacity of production.
At the same time, the minister could not comment on the reported deal with Adlecraft.
"I do not know anything about this company (Adlecraft), but some companies often hire other companies for the extraction and processing of rock on the contractor's facilities," - continues Chidakva.
"ZCDC become fully state-owned company, because we decided that we would not work with the companies who refuse to unite, and whose licenses have expired. Now, taking into account the expiration of their extraction permits and due to start self-employment ZCDC we can not quickly acquire equipment worth hundreds of millions of dollars "- adds the minister.
In March ZCDC produced 513 000 carats of diamonds valued at approximately $ 21.5 million.
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Speaking about the project India's 2016-2017 budget year, Pravinshankar Pandya (Praveenshankar Pandya), chairman of the Gem and Jewelery Export Promotion Council of India (Gem & Jewellery Export Promotion Council, GJEPC) has admitted that it has both positive and negative for the jewelery industry side, the number of the sector's problems remained unsolved.
"In the budget there are a number of positive changes, but a number of areas relating to the industry of precious stones and jewelry, were not affected by it", - he said.
Among the positive changes in the budget, which are noted in the GJEPC - to create different sets of rules for trade in natural and synthetic diamonds and diamond; creation of a special customs zone to facilitate trade of foreign mining companies in India; reduction of business tax from 30% to 25% over a certain period and at the same time streamlining and cancellation of a number of additional taxes. Among the positive developments also noted the authorities' desire to create a world-class educational institution for advanced training in various fields of activity; proposal to adopt a law on advanced workshops and enterprises; reduction of the judicial load of business; and, in addition, the introduction of a new scheme of settling disputes out of court.
Meanwhile, Pandya noted that the industry of gems and jewelry concerned that the government has not paid attention to a number of proposals to facilitate the activities of the jewelry sector in India.
Pandya expressed dissatisfaction with the fact that "the existing problems of the industry of jewelry and precious stones were not included in this budget. We fear the introduction of the excise tax on jewelery for the first time in decades."
He added: "In the past, successive governments have listened to us and not to levy the excise tax on jewelery We urge the Min
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