• Categories
  • Archives

Brazilian Indians Sell Diamonds in Auction

The Federal Savings Bank reaped US$ 273.7 thousand from the sale of 665 carats of uncut diamonds belonging to the Cinta-Larga (“Wide Sash”) Indians, from the state of Rondônia, in an auction held February 2 in Rio de Janeiro. The Bank’s national manager of Microfinance, Paulo Lima, told the Agência Brasil that the 57 lots placed on the block were sold.

Around 40 registered buyers, including individuals interested in purchasing the stones, jewelers, and international diamond merchants, took part in the auction.


Lima revealed that, after deducting operating expenses and taxes, the net proceeds will be turned over to the Cinta Largas.


The most expensive stone, weighing 28.4 carats, was knocked down for US$ 98.1 thousand (R$ 257 thousand). The cheapest lot, estimated to be worth US$ 38 (R$ 100), also earned an impressive premium; the winner paid US$ 267.20 (R$ 700.00).


This was the institution’s first auction of merchandise obtained through a temporary government order. The Bank usually auctions jewels deposited in its pawn department and left unreclaimed by their owners.


The diamonds were the object of a conflict between the Indians and prospectors last March on the Roosevelt Indian Reserve, in Rondônia, in the extreme north of Brazil.


The diamonds that were sold will receive the Kimberley Certificate from the National Department of Mineral Research (DNPM). This document is required to negotiate these precious stones on the international market.


Translation: David Silberstein
Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Thanks to Right Rain Brazil Expecting a Record Coffee Crop

Brazil may have a record production of coffee this year. According to the first ...

Huge hole on Brazilian road

By Car, Air or Foot, Brazilians Can’t Escape Chaos and Crime

Brazil is dissolving like an ice cream exposed to the sun. The public authority’s ...

Brazilian Design with an Eye for the Ecologically Correct

Headquartered in Belo Horizonte, capital of the southeastern Brazilian state of Minas Gerais, CWT ...

With Venezuela’s Help Brazil Builds First Oil Refinery in 20 Years

Brazilian President Luiz Inácio Lula da Silva visited two municipalities in the state of ...

Mobile to Soon Become More Popular than Fixed Broadband in Brazil

By 2011, according to a new report from Pyramid Research, Mobile broadband will surpass ...

Clear Act of Dealing with the Unexpected

The more he thought the more the desire pierced him, the more his body ...

Brazilian Amazon Communities Make Money Saving the Rainforest

Three hundred families associated with the Brazilian Cooperative of Ecological Farmers of the Amazon ...

Brazil Sees G-20 US$ 1 Trillion Injection as Oxygen to World Economy

The decision by the G-20 to inject US$ 1.1 trillion into the global economy ...

Just in Case Brazil Gives Economy a US$ 164 Billion Vaccine

Brazil has already injected an estimated US$ 164 billion, mostly into banks and corporations, ...

Made in Brazil: Rio Fashion Exports Grow 13%

The fashion industry in the southeastern Brazilian state of Rio de Janeiro consolidated its ...