Zimbabwe has reduced licence fees for local diamond polishing and cutting firms from $100 000 to $20 000 annually. 

The licence is valid for 10 years. 

Walter Chidhakwa, the Mines minister, told a news conference yesterday that the move was aimed at promoting the local beneficiation industry as well as creating jobs in the country. 

Chidhakwa said the latest development will aid over 20 companies operating in Harare to employ at least 100 people in beneficiating the gems.

Tags: Diamonds,