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Zim earned $69.9 mln from last Dubai tender

05 november 2014
Zimbabwe is said to have earned $69,9 million from the Dubai diamond auction that took place from July 20 to the first week of August 2014.
The sales figures were made public by the Zimbabwe Revenue Authority (Zimra) commissioner-general Gershem Pasi in a statement to the local media.
“There have not been any major sales of the country’s diamonds during the quarter under review. One diamond sale was conducted in Dubai from July 20 to the first week of August 2014 and gross sales were $69,9 million,” he was quoted as saying by NewsDay.
This was the second Dubai tender of Marange diamonds following the Dubai Diamond Exchange's (DDE) inaugural Zimbabwe Diamond Tender in March.
Over 400,000 carats of rough diamonds from Anjin, Jinan, DTZ, Diamond Mining Company, Marange Resources, Mbada Diamonds and Kusena were placed under the hammer and achieved sales of $29.2 million.
Meanwhile, Pasi said mining royalties contributed $33.1 million against a target of $48.3 million in the third quarter of 2014.
“The performance of this revenue can be attributed to the general fall in gold output and prices of gold on the international market. In July, gold prices were $1 342 and by October prices went down to $1 193 according the bullion vault market,” he said.
Pasi said commodity prices were expected to go down this year due to the unfavourable prices. However, the country’s mining sector was expected to grow by 11,4 percent on the back of planned investments and strong performance in gold, diamonds, nickel and coal.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished