Zim to Introduce Weekly Gemstone Auctions
In an endeavor to ensure gemstones in Zimbabwe fetch adequate and real value, the Ministry of Mines and Mining Development and the Minerals Marketing Corporation of Zimbabwe (MMCZ) will conduct a weekly pilot gemstones auction in Chinhoyi this year.
By Rudairo Mapuranga
The pilot project, according to an official who spoke to Mining Zimbabwe, is expected to bring gemstone buyers from across the world.
The Ministry of Mines and MMCZ are also in the process of reducing the cumbersome export process for gemstones valued at less than US$20,000. The goal is to ensure the process takes less than 10 minutes to attract retail gemstone buyers.
“We want to introduce an auction for our gemstones starting in Chinhoyi. This is to make sure that our miners get the real value of their minerals.
“We also want to reduce the export process of the gemstones,” said the government official.
Zimbabwe is home to a variety of exquisite gemstones, including emeralds, aquamarine, amethyst, tourmaline, and garnets. The weekly auctions in Chinhoyi are set to showcase these gems to international buyers, providing a platform for local miners to reach new markets and achieve fair prices for their products.
Emeralds, known for their deep green hue, are among the most valuable gemstones mined in Zimbabwe. These gems are highly sought after in the jewellery industry and are renowned for their rarity and beauty. Aquamarine, with its captivating blue colour, is another precious gemstone found in Zimbabwe. It is prized for its clarity and is often used in high-end jewellery pieces.
Amethyst, a violet variety of quartz, is abundant in Zimbabwe and is popular for its vibrant colour and affordability. Tourmaline, which comes in a wide range of colours, from pink to green to black, is also mined in Zimbabwe. This versatile gemstone is favoured for its unique colour variations and durability.
Garnets, available in a spectrum of colours, including red, orange, and green, are another notable gemstone from Zimbabwe. They are known for their brilliance and are frequently used in both fine and costume jewellery.
The weekly gemstone auctions in Chinhoyi are expected to attract buyers from around the globe, eager to explore and acquire these exceptional gems. By streamlining the export process and providing a dedicated marketplace for gemstones, Zimbabwe aims to enhance the visibility and value of its gemstone industry on the international stage.
This initiative not only promises economic benefits for the country but also supports local miners by providing them with a reliable platform to sell their products at fair market prices. As the auctions gain momentum, Zimbabwe’s reputation as a source of high-quality gemstones is likely to grow, attracting more buyers and investors to the sector.