Zimbabwe: Local Diamond Sales Low

14 October 2014

Zimbabwe did not benefit much from the diamond sales on the local tender last week, as the gems went for a song after international buyers bought them at half the international price, raising questions on how the local sales are being handled.

Diamond dealers believe there was connivance by buyers to undervalue the precious gems knowing that Zimbabwe was desperate to sell, but could not participate at the international market because of threats of confiscation by companies in hostile countries.

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