Zimbabwe Consolidated Diamond Company has cut its 2019 diamond production forecast 24% to 3.1-million carats, but sees a rebound in 2020
Harare — State-owned Zimbabwe Consolidated Diamond Company is planning gem auctions outside the country, including in Asian cities, to widen marketing options amid a market glut that’s steadily made polished stones cheaper.
“All those big companies like De Beers and Alrosa are also doing it, so we must also be there with them,” De Pretto said in an e-mailed response to questions. “Harare is not a choice with many international buyers. By going to Dubai, Hong Kong, Antwerp and all those places, that is where the international buyers are.”
ZCDC has cut its diamond production forecast for 2019 by 24% to 3.1-million carats, but sees a rebound to 6.12-million carats in 2020. In total, the nation expects 4.1-million carats output in 2019 year from 2.8-million carats in 2018. At the peak of production in 2012, the Southern African country’s output was 12-million carats.
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