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Article

12 Aug 2010

Author:
Bill Corcoran, Irish Times

Auction of unbanned diamonds held in Harare [Zimbabwe]

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Gems valued at €56 million from the controversial Marange diamond fields in Zimbabwe were put up for auction yesterday, the first legal sale since international regulators partially unbanned trading in the precious stones two months ago... The KP [Kimberley Process] ruled in June that human rights abuses by the military, which stands accused of killing over 200 illegal miners during operations to secure the Marange fields in 2008, were no longer taking place following visits to the area by its monitoring team... According to the government, it has 4.5 million carats of diamonds in its stocks, which it values at €1.3 billion... However, most of these stones were not mined under KP supervision, so they still need to be audited before they can be released for export, said KP monitor Abbey Chikane.