Obert Mpofu News
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Zimbabwe is trying to reach an agreement to distribute its stones directly to China, Dubai and Israel without violating rules against the sale of gems from the Marange fields, Chris Mutsvangwa, chairman of the state-owned Mineral Marketing Corporation Ltd., said.
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Zimbabwe held an auction of 300,000 carats of gems from its Marange diamond fields last week, Mines Minister Obert Mpofu said.
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Zimbabwe plans to raise royalties payable by platinum miners to make producers process the metal in the country, Mines Minister Obert Mpofu said.
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Zimbabwe seized some land owned by Zimplats Holdings Ltd., the country’s biggest platinum miner, “with immediate effect,” Mines Minister Obert Mpofu said.
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The Standard & Poor’s GSCI Spot Index of 24 raw materials rose 0.1 percent to 679.87 by 6:17 p.m. in London. The UBS Bloomberg CMCI gauge of 26 prices climbed 0.2 percent to 1,608.533.
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A trade embargo on diamonds from Zimbabwe’s Marange fields has cost the southern African nation about $30 million, Mines Minister Obert Mpofu said.
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Zimbabwe has “no choice” but to accept the supervision of diamond exports from the southern African nation, Mines Minister Obert Mpofu said.
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Zimbabwean Mines Minister Obert Mpofu said there had been no human rights abuses in the country’s Marange diamond fields.
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Zimbabwe will cancel all mineral claims held by Maidstone, England-based African Consolidated Resources Plc , said Obert Mpofu, the country’s mines minister.
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Platinum advanced, ending a three- session drop, as Zimbabwe said it took land from the country’s biggest miner of the metal, fueling supply concerns. Palladium reached the highest since September 2011. Gold rose.
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