Originally reported to total 129,084 carats—a mix of gem and industrial-grade diamonds—the parcel, which had been secured in Zimbabwe’s central bank vault since 2009, was found to include an unexpected additional 6,055 carats of gem-quality diamonds. The revised contents show that 27% of the parcel consists of gem-grade stones, with an average size of 7 to 8 carats. Many of the stones exceed 10.8 carats, classifying them as “specials.”
The parcel’s history dates back to 2007, when Vast Resources, then operating as African Consolidated Resources, surrendered its diamond claims in Zimbabwe’s Marange fields following a legal and political dispute. The Zimbabwean government had revoked the company’s mining licenses and expelled it from the region, shortly after it uncovered significant alluvial diamond deposits on land previously explored by De Beers. De Beers had exited Marange in 2006 after a decade of exploration, citing a lack of viable deposits.
Vast says the final inventory was confirmed following an inspection under the Kimberley Process, which authenticated and certified the stones. The newly discovered 6,055-carat gem-quality addition was identified during sorting, and was previously undocumented.
The entire consignment is now in Dubai for final sorting, cleaning, and preparation for sale. Vast expects initial results from the process within weeks and anticipates that proceeds from the sale will significantly improve its financial position. The company posted a $14.7 million net loss in 2024 and operates across multiple commodities, including copper, zinc, gold, silver, and diamonds.
