EU Lifts Zimbabwe Diamond Restrictions
News: The European Union (EU) has announced that state-owned mining company Zimbabwe Mining Development Corp can now start to make export shipments to the EU following the removal of sanctions against the company, Mineweb reports. The EU had previously restricted Zimbabwe from making diamond shipments from its Marange diamond fields following concerns about looting. The sanctions are reported to have been lifted with immediate effect on September 24 2013.
BMI View: Despite abundant reserves, Zimbabwe will achieve only modest growth over the forecast period to 2017 due to weak global prices and a deteriorating business environment. Platinum production will be the main driver of growth, while growth in diamond output will be modest and the country will remain a very small producer of gold.