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Zimbabwe restarts diamond sales after 1-year hiatus

Zimbabwe resumed diamond sales after a one-year hiatus, recently concluding a test sale that raised US$829,067, Xinhua News Agency reported Feb. 23, citing Mines Minister Winston Chitando.

Chitando did not disclose the number of diamonds sold during the test but said about 1.6 million carats of diamonds stockpiled from March to December 2017 will be auctioned by state-owned Zimbabwe Consolidated Diamond Company, or ZCDC, in March and April this year.

ZCDC suspended diamond sales in March 2017 to restructure certain business processes but is now expected to hold regular diamond auctions through the year. Chitando said the March sale will run March 5-16 and ZCDC is working with the Minerals Marketing Corp. of Zimbabwe on a sales calendar.