Business / Economy
Zimbabwe to auction more diamonds in Europe
20 Jan 2014 at 18:24hrs | Views
The government is set to put 1 million diamond carats on the market for the second trading of Marange gemstones in the European Union (EU) market.
In an interview, the Permanent Secretary in the Ministry of Mines and Mining Development, Professor Francis Gudyanga said information coming from Belgium shows that there is a lot of interest in the European market which might force authorities to extend the tender process by another three days.
"We have set the second sale of Marange diamonds at Antwerp from the 12th to the 19th of next month but information coming from Belgium shows there is a lot of interest, hence dates might be extended. We are targeting to trade 1 million carats of diamonds," said Professor Gudyanga.
He said diamond firms are set to comply with the regulations to provide diamond cleaning services of the precious stones for maximum value.
"Companies are complying with the directive to clean diamonds to ensure that the gems attain maximum value on the market. This time around will resemble the country's footprint as compared to last year where poor quality gemstones were traded," he added.
The Marange diamonds made their debut sale at the European market last year with 279723 carats from five diamond mining firms being sold.
Over 89 percent of the goods offered consisted of low-quality industrial stones which were not cleaned.
The sale raked in $10 million, with 115 clients participating in the tender process.
In an interview, the Permanent Secretary in the Ministry of Mines and Mining Development, Professor Francis Gudyanga said information coming from Belgium shows that there is a lot of interest in the European market which might force authorities to extend the tender process by another three days.
"We have set the second sale of Marange diamonds at Antwerp from the 12th to the 19th of next month but information coming from Belgium shows there is a lot of interest, hence dates might be extended. We are targeting to trade 1 million carats of diamonds," said Professor Gudyanga.
He said diamond firms are set to comply with the regulations to provide diamond cleaning services of the precious stones for maximum value.
The Marange diamonds made their debut sale at the European market last year with 279723 carats from five diamond mining firms being sold.
Over 89 percent of the goods offered consisted of low-quality industrial stones which were not cleaned.
The sale raked in $10 million, with 115 clients participating in the tender process.
Source - zbc
