Tanzania Eyes Deal with Dubai Diamond Exchange
August 08, 22
(IDEX Online) - Tanzania is reportedly looking to sell its rough through the Dubai Diamond Exchange (DDE).
Minerals minister Dotto Biteko said the country needs to seek more lucrative markets for the estimated 500,000 carats it produces annually, according to The Citizen newspaper.
He was speaking ahead of a meeting of the 18-member African Diamond Producers' Association, of which Tanzania is the current chair.
The meeting, in the city of Arusha was due to discuss the contribution of diamonds to African economies.
In February, DDE (pictured) announced it had overtaken Antwerp as the top trading hub globally for rough diamonds - over $22.8 billion in 2021.