Story by Owen Mandovha
ZIMBABWE’s rough diamonds continue to attract global interest through the Dubai Diamond Exchange (DDE), one of the world’s fastest-growing trading hubs and a key player in the international gemstone value chain.
A Zimbabwean delegation attending this year’s Kimberley Process (KP) meetings, hosted in Dubai under the UAE’s chairmanship, was granted rare access to observe how Zimbabwean gems are sorted, valued, and auctioned to international buyers, most notably from India’s Surat cutting and polishing industry.
Although the UAE does not produce diamonds, it has emerged as a central trading corridor. The DDE recorded turnover of US$21 billion in 2023, up from US$19 billion in 2019, reinforcing Dubai’s role as a preferred destination for global auctions and high-value transactions.
Zimbabwe’s diamonds, marketed primarily through the Zimbabwe Consolidated Diamond Company (ZCDC), pass through this hub under established partnerships with auctioneers such as Transatlantic Gem Sales (TGS) and Taurum.
“This is Transatlantic Gem Sales, and we handle gems from Zimbabwe. When the gems arrive here, we sort them out, as you can see, where we examine them for impurities so that we properly classify them. Once the process is done, as you can see, we there out a tender calling out for buyers to come and buy the diamonds through an auction,” Director of the Transatlantic Gem Sales, Anthony Peter said.
Buyers from Surat in India have examined the gems before buying, including ones from Zimbabwean diamonds, for years.
“I have been buying Zimbabwean gems for a long time now, and we always come here at Trans-Atlantic for auctions, and I can say Zimbabwe has done quite well in terms of supplying good quality gems here,” Indian Buyer, Aakash Shah said.
Italian-born Paolo Persico, General Manager of Taurum, located a floor higher at the gigantic Almas Towers, has also been dealing with ZCDC for years.
“We have weekly auctions here where we invite buyers, and since Zimbabwe started supplying diamonds, we have created synergies with ZCDC. Prices have gone down generally across the globe, but we look forward to working with Zimbabwe, which has been well integrated in the global value chain,” he said.
Zimbabwe is determined to get value from its mineral resources and forge ahead with national development.
“As the ZCDC, we have managed to create our own loyal auctioneers here in Dubai, such as Trans Atlantic and Taurum, and it is essential that we have access to these critical markets and relationships here in Dubai to get value for money for our diamonds, which are critical in developing the economy,” CEO Zimbabwe Consolidated Diamond Company, Dr Douglas Zimbango said.
A large diamond was mined by ZCDC at Chiadzwa has found its way at the Dubai Diamond Exchange, were it is being auctioned, hence Zimbabwe needs to maintain its Kimberly Process Certification in order to have unfettered access to these global markets, essential for growth and development of the national economy.
