Zimbabwe Production Soars in First Half

RAPAPORT... Zimbabwe's state diamond producer recorded a 44% increase inoutput in the first half of 2018 following investments in mining and processingcapacity. The Zimbabwe Consolidated Diamond Company (ZCDC) recovered1.6 million carats in the six months ending June 30, compared with 1.1 millioncarats a year ago, a spokesperson for the miner told Rapaport News lastweek. The company produced 594,000 carats in the same period of 2016. "ZCDC is on track to achieve its targeted full-yearproduction of 3 million carats by the end of 2018," the spokesperson said. Most of the rough diamonds are from the Marange fields, thenation's largest and most important diamond resource. A large proportion of thegoods are still in ZCDC's inventory while the company restructures its salesand marketing operations. It conducted two test sales earlier this year, andplans to hold another sale soon at which it will offer some of the accumulatedstock, the spokesperson added. ZCDC expects to expand its annual production to 11 millioncarats in 2025 by investing $400 million in the sector over the next fiveyears, it said last month.