(IDEX Online) - The Minerals Marketing Corporation of Zimbabwe (MMCZ) has high expectations for its final auction of the year. The corporation sold 316,000 carats at its most recent tender.
In the next sale, which is anticipated for November, according to The Herald, MMCZ hopes to sell 400,000-500,000 carats of goods.
While Zimbabwe expects to almost double its production this year - 4.1 million carats compared to 2.8 million carats in 2018 - production is still far from the country's peak production days of 12 million carats, reports the paper.
Earlier this year, state-owned Zimbabwe Consolidated Diamond Company (ZCDC) reached an agreement to develop diamond deposits in the country. The joint venture gives Alrosa a 70-percent controlling stake for the development of greenfield projects.