world’s second-biggest rough diamond
Dubai has been making a lot of waves in diamond auctions recently. Image Credit: AFP

Dubai: More than 100,000 carats in rough diamonds worth $50 million plus will go on auction in Dubai from November 17-22. This will be at the site of the Dubai Diamond Exchange, and will be overseen by Gem Auctions DMCC, whose founder is the mining entrepreneur Alan Davies.

This will be the company’s first rough diamond auction in Dubai. Davies currently serves as CEO of Zambian mining company Moxico Resources and was CEO, Diamonds, Energy and Minerals of Rio Tinto where he led and innovated their diamond mining and tender operations from 2012-2016.

“Gem Auctions DMCC will showcase exclusive run-of-mine productions, complemented by precise assortments and Galaxy files to allow for a more transparent and efficient viewing experience for our valued customers,” said Sachin Parekh, Head of Sales and Client Relations at Gem Auctions DMCC.