Zim to hold second Antwerp diamond auction

via Zim to hold second Antwerp diamond auction | The Source January 29, 2014

Zimbabwe will next month hold a second and bigger auction of its diamonds in Belgium hoping to build on the success of the first, a diamond sector representative said on Wednesday.

The tender will run for 10 days from Wednesday, February 12 at the Antwerp Diamond Tender Facility, Botswana diamond marketing firm, First Element said.

Six miners: Diamond Mining Company, Jinan Investments, Anjin Investments, Marange Resources, Mbada Diamonds and the Development Trust of Zimbabwe will sell their gems at the auction.

Zimbabwe’s first auction in December last year realised about $10.7 million.

At least 84 percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp but Zimbabwe has said it also planned to sell its gems in Dubai and Shanghai, China to maximise earnings.

Authorities revised the 2013 diamond output downwards from 12.5 million carats to 11 million carats, but is expected to grow to 12 million carats in 2014.