Arab Today, arab today zimbabwe fights seizure of diamond money in belgium
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Zimbabwe fights seizure of diamond money in Belgium

Arab Today, arab today

Arab Today, arab today Zimbabwe fights seizure of diamond money in Belgium

Diamonds
Harare - XINHUA

Zimbabwe risks losing 45 million U. S. dollars diamond revenue from Belgium after a South African company sued for wrongful cancellation of its platinum mining agreement with a Zimbabwe state mining firm in 2010, state media reported Thursday.
Zimbabwe began trading its diamonds in Antwerp in November last year after the European Union lifted sanctions on the Zimbabwe Mining Development Corporation (ZMDC), the state mining firm that has partnered six companies to mine diamonds in Marange.
The country's third 10-day diamond auction in Antwerp was scheduled to run from the third of this month to Tuesday this week with 500,000 carats expected to go under the hammer.
But the South Africa based Amari Platinum Holdings was last week granted an order by a Belgium court to attach Zimbabwe diamonds worth 45 million dollars.
The company argued that the Zimbabwe government wrongfully terminated its memorandum of agreement with the ZMDC in 2010 after it had invested over 4.5 million dollars in exploration work for platinum mining.
Zimbabwe's Mines Minister Walter Chidhakwa was quoted by the Herald newspaper as saying that government had sent a team of lawyers to Belgium to argue Zimbabwe's case.
The minister accused Amari of jumping the gun by rushing to the Belgian High Court before the dispute had gone before the International Court of Dispute Resolution in Zambia on Sept. 19, 2014.
Chidhakwa argued that the diamonds in Belgium did not belong to ZMDC but to the companies which it had partnered with in mining the Marange gems and that these companies could not be punished for ZMDC "sins."
The companies with the diamonds in Belgium are Jinan Mining, Anjin Investments, DMC, Mbada Diamonds, DTZ OZGEO and Marange Resources, which is wholly owned by the Zimbabwe government while the rest are in partnership with the ZMDC.
"We have dispatched a team to Belgium and a team left yesterday (Wednesday). They will be looking at two issues, first the matter that has triggered this is sub judice, it is before the International Court, secondly, ZMDC does not have diamonds in Antwerp," Chidhakwa said.
He said he hoped for due process to be followed and for a favorable outcome for Zimbabwe.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today zimbabwe fights seizure of diamond money in belgium Arab Today, arab today zimbabwe fights seizure of diamond money in belgium

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today zimbabwe fights seizure of diamond money in belgium Arab Today, arab today zimbabwe fights seizure of diamond money in belgium

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday