MMCZ Getting Ready To Sell The Country’s Diamond Stockpile - Report

Minerals and Marketing Corporation Of Zimbabwe has revealed that it is about to sell a sizable amount of the country’s diamonds, a move The Sunday Mail said will boost the country’s foreign currency, The Sunday Mail reports.

This was revealed by MMCZ MD Mr Tongai Muzenda who said:

We have quite a substantial stockpile to sell. Anytime soon we will be able to sell the diamonds. We have received a number of inquiries and we are looking at all the offers and choosing the best option for us to get the most from our diamonds

Muzenda said they initially planned to sell the diamonds in February but were forced to withdraw the parcel because of the COVID-19:

In February we did not get the prices that we were expecting. We recalled the parcel. Because of the coronavirus, there was not much that we could do in terms of marketing the stones but now that lockdowns around the world are easing, we are in a position to sell and the offers that we are receiving are quite impressive.

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Zimbabwe is aiming to produce 10 million carats of diamonds annually by 2023.

More: The Sunday Mail