{"id":5197,"date":"2024-10-16T10:50:21","date_gmt":"2024-10-16T10:50:21","guid":{"rendered":"http:\/\/zimgbcnews.co.zw\/?p=5197"},"modified":"2024-10-16T10:50:22","modified_gmt":"2024-10-16T10:50:22","slug":"government-agrees-to-hand-over-129400-carats-of-diamonds-in-a-legal-settlement","status":"publish","type":"post","link":"http:\/\/zimgbcnews.co.zw\/?p=5197","title":{"rendered":"Government Agrees to Hand Over 129,400 Carats of Diamonds in a Legal Settlement"},"content":{"rendered":"\n<p><br>Business Correspondent<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Zimbabwe&#8217;s government has approved a settlement agreement to resolve the long-standing dispute over 129,400 carats of diamonds belonging to Vast Resources, a London Stock Exchange-listed mining company.<\/p>\n\n\n\n<p>The diamonds have been held at the Reserve Bank of Zimbabwe (RBZ) for over a decade, following claims that Vast exploited them on claims previously owned by De Beers, which left the diamond fields in 2006.<\/p>\n\n\n\n<p>After a legal deadlock, the Supreme Court ruled in favor of Vast, and the Attorney-General&#8217;s Office in Zimbabwe has now approved the terms of the settlement agreement.<\/p>\n\n\n\n<p>Vast has agreed to withdraw legal challenges and sign a new mining agreement with the Ministry of Mines and Mining Development.<\/p>\n\n\n\n<p>Key Points of the Settlement Agreement:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Withdrawal of Legal Challenges: Vast will withdraw its appeal in exchange for the return of the diamonds.<\/li>\n\n\n\n<li>New Mining Agreement: Vast will sign a new mining agreement with the Ministry of Mines and Mining Development.<\/li>\n\n\n\n<li>Return of Diamonds: The RBZ will return the 129,400 carats of diamonds to Vast.<\/li>\n<\/ul>\n\n\n\n<p>Vast Resources&#8217; CEO, Andrew Prelea, has expressed appreciation for President Emmerson Mnangagwa&#8217;s administration&#8217;s commitment to resolving legacy issues.<\/p>\n\n\n\n<p>The company plans to sell the diamonds through a tender process and refocus its attention on other opportunities in Zimbabwe.<\/p>\n\n\n\n<p><strong>Zim GBC News\u00a92024<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business Correspondent Zimbabwe&#8217;s government has approved a settlement agreement to resolve the long-standing dispute over 129,400 carats of diamonds belonging to Vast Resources, a London Stock Exchange-listed mining company. The&hellip; <\/p>\n","protected":false},"author":1,"featured_media":5198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[],"class_list":["post-5197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/5197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5197"}],"version-history":[{"count":1,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/5197\/revisions"}],"predecessor-version":[{"id":5199,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/5197\/revisions\/5199"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/media\/5198"}],"wp:attachment":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5197"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}