The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

Today

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

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Correct adjustment of advertising is the major challenge

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Small-scale diamond mining is the future in Botswana – Leon Daniels

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“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

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22 july 2019

ZCDC produces 2.4 mln cts in 10 months

19 november 2018
The Zimbabwe Consolidated Diamond Company (ZCDC) produced 2.4 million carats between January and October 2018, according to the Sunday Mail.
Company chief executive Moris Mpofu was quoted as saying that they were still on course to produce 3 million carats this year compared with 1.8 million carats achieved last year.
“This is an increase of 54 percent from 1.56 million carats produced in 2017, and 168 percent from 895,000 carats produced over the same period in 2016,” he said.
It had transitioned from an alluvial to a conglomerate-based mining model with an investment of over $25 million in a crushing plant with a capacity to crush over 450 tonnes of ore per hour.
The diamond company said its balance sheet had also grown from $45 million in 2016 to over $250 million by September 2018.
Meanwhile, Mpofu said ZCDC had plans to invest $20 million to establish a state-of-the-art diamond value management centre (DVMC) aimed at enhancing capacity in cleaning, sorting, valuation, sales and security.
“This will be a high-tech facility that is expected to satisfy all international best practices of effective and efficient diamond value management,” he said.
“The DVMC will feature technology such as the fully-integrated sort house which will see the use of hands-free technology to sort diamonds using advanced machines that sort diamonds according to colour, clarity, size and shape or possible cut.”
He said ZCDC was planning to invest $400 million over the next five years and 25 percent of the investment would be for exploration and evaluation, as the miner moves to build bankable reserves.
The company was currently carrying out exploration work at three sites outside Marange where it was searching for viable kimberlite deposits.
“ZCDC will be conducting aero-magnetic surveys, ground penetrating radar, bulk sampling and other forms of exploration and resource evaluation to discover and evaluate diamonds deposits across the country,” said Mpofu.
“The company has established a fully-fledged exploration department which it has resourced with skills, drill rigs, mobile processing plants and earth moving equipment required for exploration work.”
ZCDC was planning to produce at least 10 million carats per annum by 2023.

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