Zimbabwe’s second diamond auction for 2018 has raked in $28 million realised from 423 066 carats.
The second successfully concluded auction in the country since March 2017 marks a huge stride for the nation to regain market confidence and claim a stake in the global diamond trading industry.
According to the latest figures presented by the Minister of Mines and Mining Development, Cde Winston Chitando for the sales tender number 3 conducted from August 28 to the 12th of September 2018, 423 066 carats were put on sale to local and international buyers drawn from the United Arab Emirates, India, Israel, Belgium, Canada, Hong Kong, Namibia and South Africa.
The government realised $28 million from these sales, a huge jump from the test sales conducted in April this year.
Additional tenders will be conducted between October and December this year, amid expectations that this trend will continue into next year as state owned diamond utility, the Zimbabwe Consolidated Diamond Company (ZCDC) targets to utilise the high yield from its conglomerate plant to be commissioned by President Emmerson Mnangagwa later this year.