PREPARATIONS FOR SALE OF DIAMONDS ARE AT A LATEST STAGE
Through the Precious Stones (Prevention of Illicit and Theft of Diamonds) Regulations 2020 and 2021 a total number of 140 stones were voluntarily handed over to the Ministry by the people of Lesotho on one hand. On the other hand the Ministry of Mining, in collaboration with the Lesotho Mounted Police Service has been able to confiscate the total number of 353 stones found in illicit trade since 2001 therefore, the Ministry has in its possession about 493 stones weighing approximately 245 carats.
“The preparations for the sale of these diamonds are the latest stage since the Cabinet has approved the sale of these diamonds and this initiative is going to be of great benefit for the state reserves, but more especially to the Basotho men and women who have voluntarily submitted their diamonds to the ministry. The ministry will invite mining industry valuators to determine the valuations and reserve price. It is to be noted that they possess more experience in diamond disposal and it is an activity that the ministry will be undertaking for the first time. The auction process will provide equitable opportunity for all locally registered diamond dealers.” Said the Minister of Mining Honourable Serialong Qoo during his statement in National Assembly on 30th April, 2021.
The Minister highlighted the fact that owners of these stones will be present on the day of the auction as per the initial agreement, and 100% of the sale proceeds will be paid directly to their bank accounts, while the proceeds from the sale of confiscated diamonds will be paid to the Government of Lesotho’s account.
He further emphasised that due to the importance and uniqueness of this historic exercise, it would be a great pleasure if it would be graced by the presence of His Majesty King Letsie III, The Right Honourable the Prime Minister, Deputy Prime Minister, His Majesty’s Cabinet, House of Senate and the National Assembly.
He concluded by thanking the House for acknowledging his Ministry’s request to undertake the activity of collecting the diamonds across the country as an initiative to pave a way for the commencement of Artisanal and Small scale Mining (ASM).