After 15 Years, Disputed Diamonds Finally being Sold

(IDEX Online) - Rough diamonds that were locked in a 15-year legal dispute in Zimbabwe are finally being sold.

The UK miner Vast Resources is offering parcels totaling 135,000 carats at a series of public and private tenders from now until the end of October.

Vast surrendered the gems in 2010 amid allegations it had exploited diamonds on mining claims previously owned by De Beers, which withdrew from Marange in 2006, saying it had failed to find viable reserves.

Vast Resources (then known as African Consolidated Resources) subsequently discovered massive alluvial diamond deposits there, which prompted the Zimbabwe government to revoke its mining licenses within months, and evict it.

The diamonds, held at Zimbabwe's central bank since 2009, were finally handed back to Vast in April of this year.

They have undergone an extensive cleaning process in Dubai to remove multiple layers of metallic silicates and mineral coatings. As a result, around 6,000 carats initially classified only as industrial diamonds have been upgraded to gem quality.

In an update (on 15 September) Vast spoke of "a unique opportunity to most effectively realize value from the long-awaited parcels from the historic settlement and could open further opportunities for the company in the future".

Pic, courtesy Vast Resources shows diamonds after phase two primary beneficiation (second cleaning) and (inset) before primary beneficiation (first cleaning).