Zimbabwe to hold local diamond auction in November

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ZIMBABWE will hold local diamond sales in November as the country has taken notes on how to successfully conduct the auctions from other trading centres in the world, Mines Minister Walter Chidhakwa said on Wednesday.
The country has conducted four diamond auctions outside the country; three at the Belgium based Antwerp World Diamond Centre (AWDC) as well as in Dubai.
The third sale of diamonds amounting to 500,000 carats, closed in Belgium on Tuesday.
“We have always said we are looking at coming back home (when we conducted auctions outside the country),” Chidhakwa told Parliament.
“We will do our first diamond sale in Zimbabwe in November.”
Chidhakwa has previously said Zimbabwe would sale its gems at all diamond exchanges to establish where it can get the best value from its natural resources.
The country has earned around $110 million from the three diamond sales that were held outside the country.
Earnings from the latest sale which closed at Antwerp on Tuesday are yet to be made public.Advertisement