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Thursday, June 14, 2018


Thursday UPDATE for June 14, 2018

The CBI is informing its citizens that cash can be withdrawn at cash sales places but limited to 2 million. This is for Dinar ONLY!

PM Abadi on TV stating that its business as usual through June 30, 2018, the  new administration takes over telling the losers not to request an extension of time via the courts due to violations of their constitution.

The Iraqi stock exchange will not be trading during the EID al-Fitr holiday of June 15 - June 19. The first trading session will be on June 20, 2018.

Timth2lman:  My question is when the EXCHANGE starts again on Wed......will there be a new rate???

Speedy: They extended EID, and the Iraqi Stock Markets are closed till next Wednesday !!! Sounds good to me !!!

JohnDoe:  Is this a new window then? The 20TH??

Cyndisaintsfan:  John Doe that's my understanding…. important that the ATM's are in dinar only !!!

Sundancer:  It is the end of Ramadan at sunset in Iraq what time is that here? I have friends in US that end it at sunset tonight US time.

Annie68:  sundancer, they are 7 hours ahead of us, so later afternoon here, maybe? 

Clintonya:  Maybe this does make sense . No ri or rv yet . So 2 million at today's rate is about 1600.00 . But if you knew the rate was going to change you could take everything out of the banks send it out of country wait for rv exchange at 3.00 or 4.00 maybe that's what the limit is for . Just a guess .lol

Harambe:  Bloomberg: China and India Want to Buy More U.S. Oil to Counter OPEC https://www.bloomberg.com/news/articles/2018-06-14/prized-oil-buyers-m​ull-uniting-on-u-s-crude-to-fight-opec-clout


Harambe:  NewsDay Zimbabwe: Diamond deposits discovered in Mash East (6/13/18)

RICH diamond deposits have been discovered in Marondera West, with government saying it would only start mining operations after crafting a new diamond law in August.


President Emmerson Mnangagwa confirmed the development at a Zanu PF campaign rally at Chizanga Primary School in Mutoko, at the weekend. He said he had since ordered Provincial Affairs minister David Musabayana to guard against invasion of the area by illegal miners.

“He (Musabayana) explained on the issue of diamonds and I said on that issue, slow down. We will deliberate on that in August after coming up with a new law on diamonds. As for now, stop encouraging people to look for the diamonds. But we will have a clear picture on how to mine diamonds in August,” he said.

Though efforts to get the exact location of the mineral from Musabayana were fruitless, it is reported that diamond deposits were discovered in Chihota, Marondera West.

In 2006, diamond deposits were discovered in Chiadzwa, Marange, before thousands of illegal miners invaded the area in search of the precious stone.

Mnangagwa was also briefed on the looting of black granite in the Mutoko area, with the community not benefiting anything.

“On the issue of granite, I know it is mainly found here in Mutoko, the mountains are being destroyed in search of the rocks. I want to promise you that this new dispensation, any (black granite) miner coming here will working alongside indigenous people.

“Currently, there is a Bill in Parliament, Mines Minerals Amendment that the community around the mines should benefit from the activities happening there,” he said.
At least 98% of black granite extracted from Mutoko is exported to European countries including Germany, Spain and Italy.

According to the Zimbabwe Mining Development Corporation, Mutoko district produces 75% of the country’s black granite.


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