Diamond Centre potential should be tapped

As the country steps up its efforts to add value to minerals, the Zimbabwe Diamond Technology Centre, which is under construction is standing out as a potential gateway to the country’s economic success.The first phase of the centre is set to be commissioned this month with the opening of six factories that will each house 200 cutters and polishers, thus creating an estimated 1 200 new jobs.

The ZDTC will also house an auction centre for the sale of the diamond.

With the potential to create 100 000 jobs if it reaches full development, the Zimbabwe Diamond Technology Centre has the potential to transform the country’s economic fortunes.

The model at the ZDTC has been adopted from other countries that have prioritised the processing of rough diamonds to jewellery and its marketing. Experts say the establishing of cutting and polishing structures is cost effective as many cutters can operate in a single factory.

Below is a look at other diamond centres in the world from which the ZDTC has been modelled.

Besides cutting and polishing the gems, these centres also provide auction facilities for diamond dealers.

Antwerp World Diamond Centre (Belgium) – Turnover $51 billion.

Diamond Technology Park (Botswana) – Turnover US$1 billion.

Dubai Diamond Exchange (Dubai) –  Turnover US$40 billion

Surat City (India) — Turnover – US$15 billion.

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