Zimbabwe has stockpiled over four million carats of diamonds harvested from the Chiadzwa fields since 2006, All Africa reported.

The stockpiles are worth between $32 million and $1.7 billion, depending on prices on the international market.

According to the report, should the recent Kimberley Process report, which was favorable to Harare, actually allow it to trade diamonds in the international market, the cache could bring about immediate economic benefit for Zimbabwe.

The four million carats cache reportedly includes the African Consolidated Resources consignment kept at the Reserve Bank of Zimbabwe, those in possession of Mbada Holdings, Canadile Miners and the Zimbabwe Mining Development Corporation.

As at end of May 2010, the country's diamond stockpile stood at 4,580,234,88 carats.

The website also said that a Chinese company – Anjin Investment – has entered into an agreement with Marange Resources to establish a third joint venture diamond mining company in Chiadzwa. Nevertheless, it is unclear how big the Anjin Investment claim is.