Media reports out of Africa say that the Zimbabwe Consolidated Diamond Company (ZCDC), in which the government of that country is the major shareholder; and in which all diamond companies  operating in Zimbabwe were merged early last year, has built up a sizable inventory of diamonds. The country is now preparing to hold the first auction of this rough, sometime in February this year, it is reported. 

Winston Chitando, Minister of Mines and Mining Development, is said to have confirmed the sale without revealing the quantities to be sold. According to reports in various media, ZCDC mined 1.8 million carats last year, a rise from  961,000 carats said to have been mined in the previous year.

It is reported that the ZCDC has invested  about  $ 80 million in exploration activity and for equipment purchases.