Zimbabwe reportedly received proceeds from the diamonds sold in Dubai about 30 days after the tender, a period described as “too long for such deals”.
The Herald reports that the delays crippled Harare and the diamond firms’ operations, justifying calls for the country to conduct local auctions.
Zimbabwe sold 380 626.24 carats at the Dubai Diamond Exchange Centre raking in $29,3 million.
The daily claimed that its investigations showed that the facilitator of the sale, Global Diamond Tenders, had problems transferring the money to Zimbabwe.
Mines and Mining Development Minister Walter Chidhakwa confirmed the delay.
“They were supposed to have transferred the money before Easter; maybe due to inefficiency on the part of the facilitator hence the delay,” he was quoted as saying.
“However, I understand the facilitator has now collected the money from the buyers and is now transmitting it.”
Marange Resources acting chief executive Mark Mabhudhu also complained about the delay saying that they were not aware of the logistical problems the facilitator had.
He, however, said that the facilitator sent proof of transfer last Thursday.
An unnamed source told the daily that diamond firms that sent their consignments to Dubai were now facing operational challenges with most of them struggling to settle debts and pay salaries.
“This delay has had a negative effect on companies because they were expecting payment immediately after the sale,” said the source.
“Usually the payments should come after a few days like what happened with the Antwerp (Belgium) tenders but this one took a month.”
Zimbabwe had two tenders in Antwerp in December 2013 and February this year, earning US$79.8 million from 1 237 734 carats sold.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
