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Unrest in Zimbabwe diamond sector

Chalco says confident to win Guinea approval for ore field
Shanghai (AFP) Aug 24, 2010 - Aluminum Corporation of China (Chalco) said Tuesday it was confident Guinea's government would approve its bid to jointly develop a huge African iron ore field with mining giant Rio Tinto. China's biggest alumina producer signed an agreement with Rio last month to establish a joint venture to develop the Simandou project in Guinea, with the Chinese company to invest 1.35 billion dollars in the project. "The agreement is pending approval from both the Chinese government and the Guinea government... I believe the Guinea government will approve it as it benefits the local economy, employment and infrastructure," chairman Xiong Weiping told reporters in Shanghai.

Anglo-Australian giant Rio has been working on Simandou for about 12 years but has run into trouble with Guinea's military rulers, who have handed part of its landholding to an Israeli billionaire. The Guinean government has the option to buy up to 20 percent of the project, where operations are expected to start within five years. Chalco is seeking to diversify from aluminium into other sectors such as coal, iron ore, rare earths and copper to become a global mining firm, Xiong said, as it has been hit by slowing demand and rising costs.

The listed unit of state-owned Chinalco reported a net profit of 530.6 million yuan (78.25 million dollars) for the six months ended June 30, compared with a net loss of 3.5 billion yuan in the first half of 2009. However, it posted an overall loss in the second quarter. Chalco posted a net profit of 627.2 million yuan in the first three months of the year, but had a net loss of nearly 100 million yuan in the second quarter as policies introduced in April to cool the property market hurt demand. Chalco's chief financial officer Chen Jihua said the firm's losses were more than 500 million yuan in June and it remained in the red in July, although it was confident it could rebound in the third quarter.
by Staff Writers
Harare, Zimbabwe (UPI) Aug 24, 2010
"Blood" diamonds in Africa have fueled conflict across the continent.

While Zimbabwean diamonds aren't considered "blood diamonds" by the Kimberley Process Certification Scheme, chaotic production at the country's main diamond field at Marange and consequent smuggling resulted in Zimbabwe's production being monitored by the World Diamond Council.

Despite concerns, last month the Kimberley Process Certification Scheme agreed that diamonds from the country's disputed Marange Diamond Fields could be sold on the international market after a report from the scheme's monitor a month earlier described diamonds mined from the fields as conflict-free.

The Zimbabwean government has denied reports that Farai Maguwu, director of the Center for Research and Development in Zimbabwe, has been appointed coordinator of the technical team of the Local Focal Point for the Kimberley Process Certification Scheme, The Herald Online reported Tuesday.

Last week Zimbabwe's National Association of Non-Governmental Organizations submitted Maguwu's name to the government, saying that he was civil society's preferred local contact.

In an interview Mines and Mining Development Minister Obert Mpofu stated that NANGO's promotion of Maguwu was done without governmental procedure and approval. The World Diamond Council at its meeting in Russia last month said that Zimbabwean civic bodies should come up with a Local Focal Point for the council.

Mpofu said: "The appointment of a local focal point was supposed to be done in consultation and agreement with government. I am not aware of any such consultation with government except a letter they (NANGO) wrote telling us of what they had done."

The dispute began when, on Aug. 16, NANGO wrote to Mpofu, "We are pleased to inform you that the technical committee has endorsed the nomination of Mr. Farai Maguwu, of Center for Research and Development, to coordinate the mechanism on behalf of the broader civil society operating within the auspices of NANGO."

Maguwu has been harassed by the government for his collaboration with the Kimberley Process and his efforts to investigate human rights violations in Zimbabwe's diamond fields and faces criminal charges for allegedly "publishing falsehoods against the state with the intention to cause prejudice to the security or economic interests of the Zimbabwe," in connection with activities at Chiadzwa diamond fields.

Zimbabwean Justice Minister Patrick Chinamasa has threatened action against Maguwu and his alleged backers.

Non-governmental organizations loyal to President Robert Mugabe's ZANU-PF party have refused to recognize Maguwu as the "Local Focal Point" coordinator for civil society organizations working with the Kimberley Process Certification Scheme. Organizations rejecting Maguwu's appointment include the Indigenous Business Development Center, the Zimbabwe Indigenous Economic Empowerment Organization, the Federation of Civil Society Organization and Sangano Munhumutapa.



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