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Vol 7 (AAC) No 1

Published 1st November 2013

Sparklers for Beijing

Chinese companies are seeking new joint venture partners and buying stakes in established companies to increase the supply of rough diamonds to Chinese markets

While Beijing is getting ready to take its turn at the presidency of the Kimberley Process Certification Scheme, Chinese companies are busy launching a new investment drive in the African diamond sector. (The Kimberley Process founded in 2003 groups together consumers, producers, non-governmental organisations and industry actors to check the flow of diamonds from zones of conflict.) China's Anhui Foreign Economic Construction Group has led the charge, first signing a joint venture with Zimbabwe in 2009 (AAC Vol 3 No 12, Blood diamonds and old soldiers) and then with Congo-Kinshasa in March this year (AAC Vol 6 No 7, Kasai mines go to Anhui).

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