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.