News24

China's Zimbabwe diamonds unpaid

2012-05-17 20:29

Harare - Chinese diamond firm Anjin failed to remit revenue from its operations in Zimbabwe's controversial Marange fields in the first quarter of this year, Finance Minister Tendai Biti said on Thursday.

"We have not received a single cent from Anjin, yet Anjin is seven times bigger than some of the other [diamond] companies," Biti told reporters giving his monthly fiscal statement.

Anjin is in a joint venture with the Zimbabwe government, as are three other firms.

Biti said there were suspicions the funds were funnelled elsewhere, outside the government central coffers.

"Clearly, we fear as the ministry of finance that there might be a parallel government somewhere in respect of where these revenues are going, and are not coming to us.

"There is opaqueness and unaccountability surrounding our diamonds."

Anjin along with Diamond Mining Corporation, Mbada and Marange Resources are mining the gemstones in Zimbabwe's eastern Marange area, where activists have reported gross rights abuses.

Zimbabwe government owns a 50% stake in all the four companies.

Revenue shortfall

Biti said Anjin's failure to pay in proceeds from its diamond sales could impact negatively on Zimbabwe's $4bn budget for 2012 where at least $600m was projected to come from diamond sales.

Total revenue collections for the first quarter of 2012 stood at $287.9m against a target of $320.2m, with the shortfall blamed on "under performance of diamond revenue".

"Diamond revenues have been under perfoming since January to 2012, with only $30.4m remittances received for the period January to 21 March 2012," he said. The target was $122.5m.

Biti said he has complained to leaders in the power-sharing government over the diamond revenue shortfall.

He said Zimbabwe's economy, which went into a tailspin amid a political crisis before the creation of unity government three years ago, continued to recover with gains in the mining, manufacturing and energy sectors.

Inflation will remain in single digits but might be higher than anticipated if revenue shortfalls continue, said Biti.

Comments
  • Hermann - 2012-05-17 20:47

    Anybody surprised?

      Christelle - 2012-05-17 21:16

      But Africa sees the East (China) as the saviour! ja right!!!

      Fidel - 2012-05-18 12:21

      And how much is De Beers (Anglo owned) remitting back to the Botswana state coffers? No one, as far as I can tell is of the opinion that the Chinese are "the saviours of Africa". You have, therefore, created an argument which you have then proceeded to shoot down.

  • Vince.York - 2012-05-17 21:59

    Old satanic Bob's family must have perfected THEFT by now hey - probably calls it 100% facilitation commission?

  • Bear - 2012-05-17 22:03

    I see what you did there China _> /// Well played China.

  • braamc - 2012-05-18 06:55

    Meng jou met die semels en die varke vreet jou op

  • Attie - 2012-05-18 08:36

    the money is obviously in bobs account in singapore no wonder he goes their all the time

  • keith.ngobeni - 2012-05-18 10:42

    Come on China loot them until they drop with their knees down and there's nothing left in Zimbabwe minerals wise, these tribe called shona they're the dumbest people in the whole planet the reason I'm saying this Mugabe and his opposition parties signed a deal and sold minerals assets worth 30BILLION AMERICAN DOLLARS FOR JUST A MERE 700MILLION DOLLARS TO AN UNDISCLOSED ASIAN COUNTRY, this shows how pathetic,stupid and dumb this people are.

      ndlovusola - 2012-05-18 11:51

      Well said. They r not only dumb but greedy nd selfish. I wont classify them as humans millions of ppl r scattered around the world coz of them nd they continue to sing the old man's praises coz they r benefitting. Go on china show them wat u made of.

      prince.shange - 2012-05-18 15:01

      @Keath Ngobeni u knw wat u are da danm ass-hole under da planet 2 my knowledge wat tribe are u?Ur statement is disgusting if u are a Shangani u are da worst ideot dn't paint al da ppl of shona tribe wth one brush.Thoz ppl called shona are da best educated Africans in da continent dey are not situpid bt da blame iz lay on Robert Mugabe

      Wilbert - 2012-05-19 20:02

      Zimbabwe has done some stupid things since independence thanks to the tyrant Mugabe and, for the last three years, the blundering Tsvangirai. But if the truth is to be said; SA has done some really questionable things. So if I were you, I would not laugh at Zimbabwe so loudly!

      tendai.vutatah - 2012-05-21 18:54

      @Keith , U sir are unwell and narrowminded, you are a delusional imbecile,your words are driven by hate and tribalism not interlect if u ever went school u must go back & claim 4 a refund coz it wont be fair since u did not pick up a thing,Biti who is a shona indeed is saying he is not seeing the diamond revenue and he needs answers, Bob is Bob and dont paint every1 with the same paint brush coz not every1 supports bob,are u ill ? , u are a rumbling lunatic,and u must go bak to tsholotsho or wateva cave u come from,.

  • Michael - 2012-05-18 13:03

    Of course theres theft from both sides of ownership for the mine...jsut wonder how much the workers are getting paid...probably just get to keep their limbs.

  • Ryno - 2012-05-19 08:28

    what? corruption in zim? since when?

  • Wilbert - 2012-05-19 19:46

    What Zimbabweans want to know how this MDC controlled parliament is going to stop the millions of diamonds revenue being salted away, particularly when the money is almost certainly being used to finance political violence! Why is MDC doing nothing about this?

  • mario.torrente.18 - 2012-06-18 16:20

    Not long then all Zimbabwe's tortoises,cats and snakes are also gone.

  • will.glibbery - 2012-06-18 18:36

    China, of course, has a natural predisposition to the humanitarian effort. If you see how well paid their own citizens are, then you can see that their massive high-quality exports of labor-intensive goods at budget prices is a result of enthusiastic comrades who just cannot be dragged away from work. And of course, in Africa, it is purely the goodwill of China at work. There is no way they are just interested in the minerals, I'm sure they will cover up the holes nicely and pay up when it is all extracted. After all, they supported the struggle, just like Mr. Gaddafi, another beacon of hope to the African Union. The Western Imperialist pigs just cannot see it for what it is.

  • sharon.houghton.984 - 2012-07-02 12:30

    Ask Uncle Bob where the money is!!!

  • Johnson - 2012-10-04 20:32

    :)))))))

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