Sierra Leone President to Place Tighter Diamond Controls
June 22, 03
In a speech to parliament on Friday, Sierra Leone President Ahmed Tejan Kabbah declared tighter government controls on diamond mining in the country.
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Sierra Leone suffers from diamond smuggling out to neighboring countries and is not enjoying the benefits of its own riches. Official exports last year were about $41 million, according to experts about a tenth of the total value of diamonds mined in the country in 2002.
The country’s diamond trade is dominated by a group of Lebanese companies and the international community fears that part of the diamond smuggling helps finance terror organizations such as al Qaeda and Hizzbullah.
Another “incentive” to smuggle the diamonds is a three percent tax collected by the government's Gold and Diamond Office.