• Bidding on bling

    Bidding on bling

    In Zimbabwe last week, 316 000 ct of diamonds went on auction.

    The state-owned Minerals Marketing Corporation of Zimbabwe (MMCZ) held the auction (which attracted interest from as far afield as Belgium, Dubai, India and Israel) from 9 to 11 September, according to Fin24. It is the third auction held the MMCZ this year.

    This follows reports by the country’s Sunday Mail earlier this year that state-owned Zimbabwe Consolidated Diamond Company had announced a US$32 million injection for diamond exploration projects, with forecast production at 4.1 million ct by end-2019.

    The winning auction bids have yet to be made public.

    17 September 2019
    Image: Gallo/Getty Images