The whole issue of blood diamonds refuses to go away, even though Zimbabwe鈥檚 deputy mines minister, Gift Chimanikire, rather wishes it would. He told this week that the country will hold two auctions, after getting written permission from the , the international body set up to monitor the distribution of conflict diamonds. In other words, the country has been given tacit approval to move forward.
However, a spokesman for the Kimberley Process has denied that any such permission has been given. And, so, controversy and uncertainty continue to swirl around what are some of the most lucrative diamond fields in the world. If Zimbabwe can get its act together then expect the likes of Rio Tinto Plc to pounce on that domestic market. In many ways, Zimbabwe鈥檚 diamond fields could make up for some of the larger global diamond mines that have seen better days and much better carat finds.
In many ways, that鈥檚 why the legitimate diamond market is looking forward to a strong 2011. Petra Diamonds Chief Executive John Dippenaar said during the company鈥檚 annual general meeting that within three years, 鈥渟ignificant [diamond] supply deficits are expected to emerge,鈥澛� with the largest diamond mines in the world already past their peak and demand for diamonds rising in new markets in聽 补苍诲听, 聽according to .