Mines and Mining Development minister Walter Chidhakwa has announced that the government has reduced the licence fees for diamond polishing and cutting companies by 80% to encourage participation by local players.
“We have reduced the fees from $100 000 to $20 000. We said investors do not make decisions over one year, but let the licence be a 10-year licence. We said we want you to create jobs,” Chidhakwa told journalists on Tuesday.
“We need to have a diamond exchange where you market diamonds and open little factories. That is the intention. We have already seen the land. We will do it in the new city Mt Hampden.
“I think there are pros and cons to the whole idea. There is always a need to ensure our companies are cost-competitive. Governing is about balancing these needs and being able to ensure that each and everyone benefits,” he said.
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