SURAT: Zimbabwe is likely to become the biggest supplier of rough diamonds to the world's biggest diamond cutting and polishing centres in Surat. The diamond output from its Marange fields is expected to reach 40 million carats per annum in the next two years.

According to Zimbabwean government, the country has propelled to the number one spot as world's most important player in rough diamond mining and that it will add 20 per cent to the global diamond trade. The 40 million carats diamond production per year from the Marange field will earn about $ 2 billion in revenue.

A Belgian-based diamond expert Filip Van Loere, who has been advising the Zimbabwe government on Kimberley Process ( KP) compliance, was quoted by one of the leading newspapers of African country as saying "Zimbabwe could surpass top diamond producers like Russia, Botswana and South Africa. This will benefit the cutting centres, especially India, as there will be consistent supply of rough diamonds."

Zimbabwe is well aware about the strength of Surat diamantaires when it comes to ruling the rough diamond auctions world-wide. This was evident at the recently held inaugural diamond auction after the international diamond regulatory lifted a ban on Zimba diamonds on August 11. A majority of the $ 70 billion of goods sold in the auction was purchased by Indian diamond traders.

After May 28, Zimbabwe was granted permission to export diamonds mined at two locations in Marange region. The exports were to take place in two different occasions. The first took place on August 11 and the African country will hold a second tender in September and India traders plan to dominate it too.

The promoters of new diamond syndicate -- Surat Diamond Sourcing India Limited ( SDSIL) -- have announced that they want to start the company's operation by directly sourcing rough diamonds from Zimbabwe at the second diamond auction scheduled to be held in the second week of this month.

"We want to start SDSIL's operation by directly sourcing rough diamonds in huge quantity from Zimbabwe. For us, Zimbabwe is a promising market for roughs and we want to bring all the stocks to Surat," the company spokesperson said.

Industry sources said the fast recovery in diamond market after the global economic slowdown in 2008 was largely due to the fact that Surat diamantaires processed Zimba diamonds' before it was banned in November 2009. It is Zimba diamonds which is still helping the industry to sustain its growth.

Zimba diamonds have a huge market in the northern belt of the country such as Delhi, Punjab, Chandigarh and other centres like China, Hong Kong and UAE.

"There is a huge diamond resource in Zimbabwe and thus it could become the top mining country of the world. Only Surat has the capacity to process Zimba diamonds and that we can become the biggest importer," a gem dealer Rohit Shah said.