Zimbabwe holds third diamond auction at Antwerp

Zimbabwe is holding its third sale of diamonds amounting to 500 000 carats at Antwerp World Diamond Centre (AWDC) in Belgium, the company handling the tender said yesterday.

The diamonds are from six mining companies are as part of the tender which runs for 10 days until September 16, said First Element, a marketing firm from Botswana.

Zimbabwe realised $10.7 million from the sale of 279 723 carats and $70 million from 959 931 carats at its first and second tenders held in Antwerp in December last year and January this year.

The country opted to sell the third lot in March at the Dubai Diamond Exchange (DDE) in a tender facilitated by Global Diamond Tenders DMCC, realising $29 million from 380 626 carats but had trouble getting the money.

Mining firms taking part in the Antwerp tender are Jinan, Anjin Investments, Diamond Mining Corporation, Mbada Diamonds, Marange Resources and DTZ Ozgeo. First Element has so far handled all Zimbabwe’s tenders at the AWDC.

It is estimated that 84 percent of all rough diamonds and 50 percent of all polished diamonds pass through the Antwerp centre.- The Source

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