MMCZ Warns Against Diamond Scams In Zimbabwe

MMCZ Warns Against Diamond Scams In Zimbabwe
Image Credit: Intellcorp

Minerals Marketing Corporation of Zimbabwe (MMCZ) has advised stakeholders against fraudulent companise in the diamond industries stating that it is the sole marketer of all minerals including diamonds produced in Zimbabwe except gold and silver.

The marketing corporation says it does not have any approved, certified nor accredited diamond agents for Zimbabwe.

“It has regrettably come to the attention of MMCZ that there are unscrupulous criminal elements masquerading as MMCZ agents that are misrepresenting the country by acting as Zimbabwean diamond trade middlemen,” the mineral marketer says.

“In particular, MMCZ wishes to distance itself from the dealings of Kaluba Diamonds,a company that is fraudulently using MMCZ’s logo in its documents.”

MMCZ goes on to say that registration of prospective diamond customers should be done through corporation only.

“The process of diamond sales is a transparent one where business people do not need to be connected to any official or use any other agent,” MMCZ says.

“Therefore, MMCZ wishes to advise its valued customers and stakeholders that anybody willing to do diamond business with the Corporation should not go through anybody else regardless of their societal position.”

Zimbabwe, the seventh largest diamond producer according to 2011 rankings, has been facing challenges in marketing diamonds with the government pointing at sanctions for the problems.

MMCZ warns against scams and calls itself transparent against the backdrop of US$15 billion diamond revenue missing.

The Marange diamond missing revenue has resulted in citizens questioning the government’s transparency levels.

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