Africa has five of world’s top 7 diamond producers - Report

Zimbabwe ranks as the seventh-biggest diamond producer in the world, with an annual output of over 4 million carats worth 420 million U.S. dollars, state-run Zimbabwe Broadcasting Corporation news reported Monday.

ZBC cited the latest production statistics by the Kimberley Process Certification Scheme (KPCS).

In terms of diamond output, the Southern African country was only behind Botswana, Russia, Angola, Canada, South Africa and Namibia, according to the KPCS, a regulator of trade and production of diamonds globally.

Zimbabwe is aiming to produce 7 million carats of diamonds this year, and the sector is targeting an annual revenue of 1 billion U.S. dollars.

The Zimbabwean government expects the mining sector to reach a 12 billion U.S. dollar market value by the end of this year.