Diamonds From Africa

Africa is Rich in Diamonds But Still Poor

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“Last week Tanzanian police struck a blow against international diamond smuggling. A consignment of diamonds worth around 28 million euros ($33.4 million) was seized at the country’s main airport. Petra Diamonds, the biggest listed diamond company in the world, based in the tax haven of Jersey, had registered a consignment of 14 kilos (30 pounds.) However, according to the Tanzanian authorities, it actually weighed 30 kilos. The rough diamonds from the Williamson mine were intended for export to Belgium for processing.

“The Williamson mine in the north of Tanzania is a joint venture. 75 percent belongs to Petra Diamonds, 25 percent to the Tanzanian government. Tanzania’s president, John Magufuli, has declared that combating corruption in the mining sector is a priority for his government. His anti-corruption platform played a large part in helping him to power in 2015.”

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One thought on “Diamonds From Africa

  1. judithwmoore@gmail.com says:

    The desire for diamond jewelry, especially for engagement rings, is a perfect example of how marketing creates perceived needs and values.

    Sent from my iPhone

    >

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