Zimbabwe expects to sustain its diamond sales and supply to its customers this year, from stock holdings and increased production from the new conglomerate plant amid indications that the country’s gems fetched better prices per carat from the last auction conducted in December.
Projections by the Zimbabwe Diamond Consolidated Company (ZCDC) to increase its production by over 450 percent to around 10 million carats within the next five years give impetus towards ensuring that Zimbabwe continues to be a supplier of rough diamonds on the global market.
In fact, a surge in production statistics to this magnitude would firmly place the country among the top five producers of rough diamonds globally, translating to more revenue receipts.
After invoicing US$28 million from the April last year sale, government is scheduled to release an update from the last auctions concluded from the October and December bids.
There are strong indications that the last auction could surpass the previous total bid value as there was positive movement on the average bid per carat.
With the diamond mining policy in place as well as strides towards the establishment of a diamond value management centre, the gems are poised to fetch better prices on the international market.