Zimbabwe to auction 280 000 carats of diamonds in Dubai

About 280 000 carats of rough diamonds from the Zimbabwe Consolidated Diamond Company (ZCDC) will go under the hammer at an international tender in Dubai next week, as Zimbabwe intensifies efforts to grow its presence in the global diamond market.

The auction, organised in partnership with Trans Atlantic Gem Sales (TAGS), will run from April 13 to 17 and is expected to attract buyers from across the international gems and jewellery sector.

In a statement, TAGS said the tender will feature a wide selection of Zimbabwean diamonds.

"The sale will feature over 280 000 carats of original Zimbabwean mine production, offered across a full range of sizes and qualities," the company said.

The sale forms part of Zimbabwe's broader strategy to maximise returns from its mineral resources and strengthen its foothold in global diamond trading hubs.

It will be the second such tender within a month involving Zimbabwean stones, following a previous sale that showcased more than 500 000 carats earlier this year.

ZCDC recently expanded its international marketing channels by partnering TAGS as an additional tender house, alongside Taurum Group, to enhance competitiveness and transparency in the sale of its diamonds.

The company operates under the Mutapa Investment Fund and is a key player in Zimbabwe's mining sector.

The upcoming auction is expected to benefit from strong global demand, particularly in Dubai's well-established trading ecosystem anchored by the Dubai Multi Commodities Centre (DMCC).

DMCC executive chairperson Sultan Ahmed Bin Sulayem recently commended the quality of Zimbabwean diamonds and the level of activity at recent tenders hosted at Almas Tower.

He noted that Zimbabwean goods have attracted significant interest from specialist manufacturers, with strong attendance and competitive pricing recorded at previous auctions.

"As one of the most active participants in the Dubai Diamond Exchange, TAGS remains a cornerstone of our precious stones ecosystem," he said.

Zimbabwe's diamond marketing framework requires producers to reserve 10% of output for local buyers, while the bulk is sold through international tenders to maximise value.

The Minerals Marketing Corporation of Zimbabwe continues to oversee the sale of minerals to ensure optimal pricing and compliance with national regulations.

With preparations complete, next week's tender is expected to further position Zimbabwe as a competitive supplier in the global diamond market while boosting foreign currency inflows.