By Itai Ndongwe
HARARE – Zimbabwe’s diamond sector has received a boost after Sultan Ahmed Bin Sulayem, Executive Chairman of the Dubai Multi Commodities Centre (DMCC), praised the quality of stones exported from the country.
This follows the sale of more than 500,000 carats of rough diamonds from Zimbabwe at a recent auction in Dubai.
The diamonds were marketed through Trans Atlantic Gem Sales (TAGS), one of two international tender houses now working with the Zimbabwe Consolidated Diamond Company (ZCDC).
Speaking after visiting TAGS facilities at Almas Tower in Dubai, Bin Sulayem said the auction attracted strong global interest.
“We witnessed a high level of attendance from specialist manufacturers at the current event featuring Zimbabwean goods,” he said.
“There is sustained appetite for high-quality rough diamonds, as evidenced by the strong activity and prices achieved at TAGS’ recent tenders.”
He said preparations were already underway for another sale in April, which will include more high-quality diamonds from Southern Africa.
Bin Sulayem also highlighted Dubai’s growing dominance in the global diamond trade.
“Since becoming the world’s leading rough diamond trading hub in 2021, Dubai has continued to strengthen its position, with more than 1.06 billion carats of rough and polished diamonds traded over the past five years,” he said.
ZCDC recently appointed TAGS as its second international sales partner, joining Taurum Group, as it seeks to improve transparency and maximise value from diamond exports.
The Minerals Marketing Corporation of Zimbabwe oversees the sale of the country’s minerals to ensure they achieve competitive prices on the global market.
ZCDC is currently operating two open-pit mines in Chiadzwa and Chimanimani. The company was established in 2016 after the government shut down private diamond miners in the areas over accountability concerns and revenue losses.
Zimbabwe’s diamond exports are a key part of growing trade with the United Arab Emirates, alongside gold.
Officials say the strengthening of international auction channels and continued demand for high-quality stones could improve foreign currency inflows into Zimbabwe.
