The BBC News Africa has reported that £1.25 billion of diamonds has been stolen from Zimbabwe. This has been alleged by Partnership Africa Canada, known as PACS.
The PAC report states that it was the largest diamond theft ever documented, benefiting criminals and international gem dealers. A Zimbabwean mining official has stated that the allegations is 'totally false'.
The industry's global watchdog body, the Kimberley Process, lifted a ban on Zimbabwean diamond sales in 2011, with the backing of the US and European Union.
The Zimbabwean finance minister, Tendai Biti, said that $600 million dollars in revenue from diamond mining had been expected this year, but only 46 million dollars had materialized.
The head of of the state-run Zimbabwe Mining Development Company, Goodwills Masimirembwa claims that the PAC's allegations were "totally false". He is quoted as saying, "No diamonds have ever gone missing."
At My Diamonds we are staunchly behind the Kimberley Process, which oversees the mining and selling the world's diamonds, encouraging transparency in all transactions. We source high quality diamonds from legitimate providers, meaning that we know exactly where our diamonds come from. Please read our article on blood diamonds on www.mydiamonds.com.au.