Home » General » ANTWERP AT BULAWAYO MINING EXHIBITION SEEKS TO SECURE ZIMBANWEAN DIAMONDS FOR AUCTION

HARARE, July 28 – -The Antwerp World Diamond Centre (AWDC) was among nearly 200 companies which participated at the recent the premier Zimbabwean mining exhibition, Mine Entra, in efforts to nurture relations with this country’s diamond industry, an official says.

Zimbabwe has held two diamond auctions at Antwerp since last year and raked in a combined 80 million US dollars in sales but has not committed to continue auctioning its gems at Antwerp as it seeks to maximize its mineral value by exploring alternative markets such as the Dubai Diamond Exchange where one sale was conducted early this year.

The move has put the AWDC, which wants to be the sole auctioneer of Zimbabwe’s gems, under pressure to lure Zimbabwe to commit to selling its diamonds in Belgium. Ari Epstein, the chief executive officer of the AWDC, which promotes Antwerp as the global capital of the diamond industry, said the centre was participating for the first time Mine Entra, which was held at the exhibition in Bulawayo from July 23 to 25.

“By participating in this event, the Antwerp World Diamond Centre wishes to re-affirm its strong commitment to the sustainable development of the Zimbabwe mining industry to ensure a long-term benefit for the country’s economy,” said Epstein in a statement.

He added that Antwerp remained “an optimal market for Zimbabwean rough diamonds due to the large number of potential buyers located in the city”, where about 1,700 diamond companies operate.

Epstein said improvements in prices of diamonds at the last auction which Zimbabwe conducted in February was positive for local miners. “The greatly improved prices have had an overall positive impact on the market, the local mining revenues and the increasing demand for transparency in the market,” he said.

“These higher revenues are a crucial element for the sustainable social and economic development of Zimbabwe.”

SOURCE: NEW ZIANA

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