- Zimbabwe Conducts First Diamond Sales After One-year Suspension
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Zimbabwe Conducts First Diamond Sales After One-year Suspension

Last update: 23/02/2018
HARARE, Feb 23 (BERNAMA-NNN-NEW ZIANA) -- Zimbabwe has conducted its first diamond sales, a year after they were suspended to allow the new sole miner to put in place effective security, control and marketing systems, says Mines and Mining Development Minister Winston Chitando.

He told a media conference here Thursday that the country earned more than 800,000 US dollars after selling an unspecified amount of diamonds in a test run auction this month, its first sales after the government suspended diamond sales in March last year following the merger of three private miners into the Zimbabwe Consolidated Diamond Company (ZCDC).

Chitando said during the 10-month absence from the market, the ZCDC had accumulated a stockpile of 1.558 million carats, which would be sold gradually.

Thirteen international buyers drawn from countries including Belgium, Botswana, India and South Africa participated in the auction.

"The sale was meant to test the market and to appreciate the economic forces at play in the market environment," he said.....


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