Zimbabwe will soon proceed with the sale of the 1,4 million carats of diamonds stockpiled by the Zimbabwe Consolidated Diamond Company (ZCDC) since March this year after the finalisation of the selling modalities by the government.
A report compiled by the Minister of Mines and Mining Development, Cde Walter Chidhakwa for presentation to global mining investors states that ZCDC has been stockpiling its diamond production since March preparing for a big sale.
According to the report, modalities for the sale are now at an advanced stage with financial and marketing structures having already been established.
The move has resulted in the government inviting international buyers to float their bids ahead of the proposed sale of the mineral commodity.
The sale of the diamonds is being made after an $80 million fresh capital injection into ZCDC by the government.
Despite Zimbabwe selling the commodities on an international scale, the nation is also forging ahead in establishing a cutting, polishing and jewellery production system, reads the report.
It also notes that funding is being mobilised to build a one stop geology and trade centre to support the entire diamond sector value chain in Zimbabwe.