Zimbabwe Gem Auction In Belgium Next Month

Zimbabwe diamond resources are some of the largest in the world. Imperialism has attempted to prevent the Southern African state from trading its most lucrative resource on the world market., a photo by Pan-African News Wire File Photos on Flickr.

All set for Zim gem auction in Belgium next month

Sunday, 17 November 2013 00:00
Lovemore Chikova in ANTWERP, Belgium
Zimbabwe Sunday Mail

The first batch of gems from Marange is expected to reach the Antwerp World Diamond Centre (AWDC) for auctioning next month, with a Memorandum of Understanding (MoU) to operationalise the sales already being discussed.

AWDC is the world’s biggest diamond trading hub and a host to more than 2 000 buyers.
The initial stages of the MoU were discussed between the two parties here where a Zimbabwean delegation has been visiting to study the systems at Antwerp for smooth trade to start.

The Zimbabwean delegation comprises Ambassador to Belgium Margaret Muchada, Secretary for Mines and Mining Development Professor Francis Gudyanga and officials from the Minerals Marketing Corporation of Zimbabwe (MMCZ) and the Zimbabwe Mining Development Corporation (ZMDC).

Ambassador Muchada said the visit opened the way for Zimbabwean gems to be exposed to a wider market.

“This has been a successful visit in which both sides showed a degree of maturity in assessing what needs to be done,” she said.

“We were able to exchange views which will lead to an in-depth analysis of the situation. We have all the ingredients that will lead to a good supply of the diamonds. I think Antwerp gives our product more possibilities to be exposed to many buyers.”

Ambassador Muchada said what was needed was to work with Antwerp in joint ventures so the diamonds have value addition before they come for auctioning to realise more profits.

Prof Gudyanga said the Zimbabwean delegation’s visit to Antwerp was a “game changer in the way we look at our diamonds”.

He said the system at Antwerp was efficient and there was a need to tap from it to have maximum benefits from the gems.

“We have learnt a lot and we have been exposed to many aspects, including the actual marketing of the diamonds,” said Prof Gudyanga.

“Our coming here was timely and our diamonds will be able to contribute more to the fiscus.”

The AWDC has been warming up to Zimbabwe following the removal of sanctions on diamond mining companies by the European Union in September.

What this means is that local gems can freely find their way onto the international market without any hindrances.

AWDC chief executive officer Mr Ari Epstein said they were ready to start auctioning diamonds from Marange and all systems were already in place for that.

“We have strict systems at Antwerp which are transparent and we are prepared to share with the people of Zimbabwe how these systems operate,” he said.

“What is important is to get maximum revenue from the diamonds and we are ready to assist Zimbabwe to do that.”

Trading of diamonds from Zimbabwe on the world market had been stalled by an illegal sanctions regime imposed on the ZMDC and its subsidiaries by the EU at the instigation of Britain.

The ZMDC is a State enterprise working in partnership with five diamond mining companies in Marange, whose operations have all been certified by the Kimberley Process Certification Scheme, a development that flies in the face of claims by some anti-Zimbabwe groups that the gems fell in the category of conflict diamonds.

It operates joint-venture mines in the Marange diamond fields and produced a combined eight million carats of the gems last year and generated US$684,5 million in exports.