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Zimbabwe to lead diamond producers - report
02 Sep 2013 at 04:59hrs | Views
Zimbabwe has the potential to become the world's top diamond producer should the gems be sold on an open market, a Canadian firm has reported.
In its commentary on the diamonds sector, Kitco, a company that buys and sells precious metals, said nearly 60 diamond mining firms around the world, which include Zimbabwean ones at Marange fields, are this year expected to account for 84% of this year's projected global output of 130 million carats.
The balance (or 16%) of global production not included according to the commentary comes from small-scale operations, where production data is unreliable or not available at all.
Experts say currently Zimbabwe's gems are being sold at below 25% of the normal price due to sanctions imposed by the United States and the European Union.
In its commentary on the diamonds sector, Kitco, a company that buys and sells precious metals, said nearly 60 diamond mining firms around the world, which include Zimbabwean ones at Marange fields, are this year expected to account for 84% of this year's projected global output of 130 million carats.
Experts say currently Zimbabwe's gems are being sold at below 25% of the normal price due to sanctions imposed by the United States and the European Union.
Source - newsday
