Industry News by Nemesis

Zimbabwe Eyes Overseas Rough Tenders

December 4, 2019

 

Zimbabwe’s state-owned diamond miner is planning tenders outside the country in an effort to attract more buyers, Bloomberg reported Thursday.

The Zimbabwe Consolidated Diamond Company (ZCDC) intends to hold 11 international sales in 2020, the news agency cited the miner’s acting CEO, Rob De Pretto, as saying. Its tenders are currently in Harare, the country’s capital, but the location does not appeal to clients, the report continued.

“We are exploring opportunities and new markets to sell our products,” De Pretto said in an email to Rapaport News Monday. “The key international markets [where] most producers are selling their goods are Antwerp, Dubai, India and Singapore,” he added, without providing details on where or when the sales would take place.

Zimbabwe’s diamond industry is centered on the Marange fields in Chiadzwa. ZCDC expects to produce 3.1 million carats this year, 24% lower than the 4.1 million carats it previously predicted, according to Bloomberg. However, the miner is predicting an increase to 6.1 million carats in 2020, the report said.

Image: An earth-moving truck at Zimbabwe Consolidated Diamond Company operations. (Zimbabwe Consolidated Diamond Company)

 

Source: Rapaport

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