Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

Zim diamond, platinum miners want 51/49 ownership threshold scrapped

16 may 2018
The Chamber of Mines of Zimbabwe said it is lobbying the government to scrape the 51/49 percent shareholding structure in the diamond and platinum sectors.
Zimbabwe amended its unpopular empowerment law to cap majority ownership by state-owned firms to only diamond and platinum mines.
"We are engaging the government, our view is that these (platinum and diamond) are capital intensive industries and by their nature require lots of money and for us to leave platinum and diamond on the 51-49 percent we think it should be revised in line with other metals," chamber president Batirai Manhando was quoted as saying by New Zimbabwe.com.
He said these mining sectors should be opened up to allow for more capital injection.
President Emmerson Mnangagwa told Chinese investors during his recent visit to the Asian country last month that Harare was working on a new diamond and platinum mining policy to replace the 51/49 percent threshold.
The Indigenisation and Econmic Empowerment Act was designed to increase black Zimbabweans' share of the economy but were opaque and open to abuse, to the detriment of foreign investor confidence.
Mnangagwa was seeking to re-boot the economy that crumbled under the long rule of Robert Mugabe, who was forced to resign last November in a bloodless coup.
State-owned Zimbabwe Consolidated Diamond Company (ZCDC) produced 1-million carats of diamonds in the first four months of the year and was set to achieve its annual target of 3-million carats.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished