Facelift for Zim diamonds

DIAMOND dealers have expressed satisfaction over the prospects of diamonds at the opening of the diamonds tender in Harare yesterday ahead of a mega local auction in November.

Local diamond dealers said the success of the local auction, judging by yesterday's response, was a clear indication that the country did not need to solely rely on international diamond auctions where sales could be tempered with by foreigners hostile to Zimbabwe.

Mines and Mining Development Minister Walter Chidhakwa confirmed yesterday that the auction had opened with a total of 25 buyers expected to have viewed the precious gems when the auction finishes tomorrow.

"It started today (yesterday), but it was just Marange (Resources) with 74 000 carats. There will be another one next week for Diamond Mining Company," he said.

"The expectation is that by Friday we would have 25 dealers (participating) but we expect the number to keep increasing until next week's auction. They are just viewing, then they will bid."

Marange Resources acting chief executive officer Mark Mabhudhu said they were impressed by yesterday's auction while Diamond Mining Company board chair Brigadier-General (Retired) Ezekiel Zabanyana said the country was on the right direction in selling the diamond locally.

Zimbabwe Diamond Technology Centre chairperson Lovemore Kurotwi said local auctions were long overdue, adding that Zimbabwe benefited more by selling locally.