Tuesday, February 26, 2013

China International Fund & Zimbabwe's Diamonds

South African journalist Khadija Sharife's article "Disappearing Diamonds" shines a spotlight on the links between the notorious Hong Kong company known as China International Fund (aka the 88 Queensway Group headed by Sam Pa) and the exploitative tragedy of the Marange diamond fields in Zimbabwe. Copiously documented and a fascinating, detailed read.

Khadija's focus on CIF should not obscure the fact that other foreign companies are actively exploiting the Marange diamond fields, including South Africa's New Reclamation Group. Apparently Diamond Mining Corporation and Mdaba Resources also have foreign investors as partners. Which countries do these firms call home? I tried to find out by using google but drew a blank. Does anyone else know?

2 comments:

  1. Thanks for sharing this Deborah - I have included it in IIED's new In Our World blog http://www.iied.org/our-world-1-march-2013-food-energy-urban-tales-more

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  2. Global Witness reports cover Mbada (SA, Mauritius, Hong Kong, BVI), Anjin (Zim and China), Sino Zimbabwe (CIF) (Hong Kong, Singapore, Zimbabwe); while DMC represents Lebanese diaspora diamond miners operating through Dubai.

    Apart from Anjin - a use of secretive tax havens is common.

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