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zimbabwe invites surat diamantaires for roughs auction | surat news - times of india - diamond smart table for sale
Surat: Zimbabwe invites small and medium-sized diamonds from Surat to participate in the annual auction of rough diamonds worth 12 million.
World Diamond Council of Antwerp (AWDC)
Working with the government of Zimbabwe to sell its diamond resources, it plans to sell 12 million rough diamonds worth millions of dollars in Zimbabwe until December --2014.
Surat is the largest consumer of rough diamonds mined at the Malangi diamond mine in Zimbabwe.
The reason is that diamonds are small in size and ideally they are cheaper than diamonds in other countries.
Zimbabwe held two auctions in Antwerp in December 2013 and February 2014, achieving $10.
According to the country's Ministry of Mines, 5 million of sales amounted to $279,723,700 for 959,931.
This is the first auction to be held in Zimbabwe.
Following the European Union, diamonds are becoming an increasingly important source of income for the Zimbabwean government (EU)
Sanctions were lifted on September against the Malange oil field in the eastern part of the country2013.
16 mines may have been mined in Zimbabwe.
According to the Ministry of Mines of Zimbabwe, it was 9 million last year, compared with 8 million in 2011.
There is no 2012 data.
Before lifting sanctions against the country
Zimbabwe Mining Development Corporation (ZMDC)
The average price of diamonds in Zimbabwe is $47 per carat, while the average price of diamonds in other centers is $76 per carat.
Dinesh Navadia, president of Surat Diamond Association (SDA)
He said, "diamonds in Zimbabwe are 55 cents cheaper than diamonds in other centers.
Even the diamond size is only suitable for the diamond cutter and polish of Surat.
Surat is therefore the end user of Zimbabwe diamonds.
Traders are looking forward to selling millions of carat diamonds in Zimbabwe.
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