Brazil Minerals Sees Panama Diamond Exchange As Possible Sales Channel

(IDEX Online) – Brazil Minerals has held initial talks with the management of the Panama Diamond Exchange (PDE), due to become the first diamond bourse in Latin America when it is opened this year, on selling its diamonds via the bourse.

The PDE, currently under construction, is due to be the first part of the $200-million Panama Gem & Jewellery Centre, a trading hub for both regional and international companies to serve a market estimated to be worth $8 billion.

The company's Brazilian subsidiary, Mineração Duas Barras, "has the largest alluvial plant in Latin America for diamonds and gold. As PDE and its affiliated Gem & Jewellery Centre want to become the largest diamond and jewelry-trading hub in Latin America, the company viewed this potential business relationship as mutually attractive,” the firm said in a statement.