Zim to supply quarter of world rough diamond – Antwerp

via Zim to supply quarter of world rough diamond – Antwerp | The Source January 27, 2014

Zimbabwe will account for over a quarter of the world diamond output in the next decade following the success of its first auction, the leading hub for rough diamond trade said on Monday.

Zimbabwe held its first ever diamond auction in Belgium last month, earning $10.7 million, of which 15 percent went to the government as royalties.

Antwerp World Diamond Centre said it planned to intensify trade relations with Zimbabwe, and expects more and better quality gems for a second auction planned for February as part of a long-term strategy to maintain its position as a leading diamond market.

“This long-term strategy is also designed to bear fruit over the next coming years, for example through the further intensifying of the trade relationships with Zimbabwe, which will according to experts account for at least a quarter of the world production over the next decade,” it said in a statement to the media.

It said according to the report issued by the Zimbabwean government, the first trial tender of Marange diamonds provided valuable insights, thanks to a fully transparent procedure, and demonstrated the potential of selling the gems in Antwerp.

“A second, larger tender including goods of higher quality is scheduled to take place in February,” it said.
Zimbabwe’s mining ministry officials could not be reached for comment.

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7 comments on “Zim to supply quarter of world rough diamond – Antwerp
  1. SADC says:

    and the next Cuthbert and Muchechetere will take a million of that money! Imagine if they were taking so much, how much are the ministers and permanent secretaries taking for themselves? Logic should say they take a hell lot more. Credit should be given to the media for exposing such selfish acts and I wonder why us Zimbabweans we haven’t striked because of these insane salaries. They fired the PSMAS board and the government was responsible. We should fire the whole ZANU government as well!

  2. Ndaizivei says:

    Is it the SAME Zim that declared recently that diamonds have run out???

  3. Only Fools says:

    Probably at half price!

  4. gorongoza says:

    What is that forecast based on? ANy exploration activities to support that and orders of magnitude? or its just wishful thinking as is normally the case?

  5. Mixed Race says:

    People must read the other website on diamonds because this article left out the most important development on diamond trade.
    The other website has released the news I heard on BBC about how Botswana has been nominated to have a big diamond processing centre for southern Africa due to its good governance and stability.
    Antwerp should give details not a weak statement as if its now a Mafia organisation with no respect for human rights.What is $10 millions in today’s trade?This organisation should stop making over exaggerated statements to cover their funny dealings.

  6. Nodza says:

    10.7 million is very very little considering the amnt of carats that was sold.On black market ts easy to get double e price frm selling only 5 by 20carats stones here in e ctry.Why go tht far wen ther are plent Lebanese,Mozambicans SouthAfricans etc ryt on our door step wt hard cash??

    • Karen Rentmeesters says:

      10.7 million is not ‘little’ if you know (facts: read the report) 89% of the diamonds that were sent from Zimbabwe to be sold in this tender by the (mostly foreign) mining companies were ‘industrial/poor quality diamonds’ (which is: diamonds that are used in powdered form to make diamond drilling heads and heavy-duty equipment.)

      If you want to compare prices, please don’t compare apples with pears…

      All the info is available freely, for the first time in a transparent way, so please check it before you write nonsensical comments.

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