“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

Vast Resources exits Zim gold mine to focus on Marange diamonds, Romania

10 april 2019

VAST_Resources_logo.jpgVast Resources has decided to offload its 25% stake in the Pickstone Peerless gold mine in Zimbabwe to focus on the Heritage diamond concession in Zimbabwe and Baita Plai mine in Romania.
“The Heritage Concession will require significant investment, not only financial but in human resource to enable near term positive cash flow for the business,” said company chief executive Andrew Prelea. 
“The divesting of the gold assets in Zimbabwe allows us to focus all of our Zimbabwe finance and management on this key component of the company’s growth."
Vast Resources, which recently acquired rights to the Heritage diamond concession, raised £852,500 before costs last month through a placing and subscription of 557 million ordinary shares. 
It said £382,500 less costs would be channeled towards the company’s operations in the Marange Diamond Fields in Zimbabwe, while £470,000 less costs would go towards the Baita Plai mine in Romania and for general corporate purposes. 
Vast and its partner Botswana Diamonds received a positive preliminary geological valuation of the Heritage diamond concession last October.   
The property contained several targets for modern alluvial diamond placer deposits.    
The assessment also revealed that grades of the known modern alluvial placers which drain the Marange diamond fields ranged in grade from 50 to 500 carats per hundred tons (cpht).    
There was also potential for remnants of the basal Umkondo (conglomerate) unit in the concession, which runs at grades from 100-3,000 cpht elsewhere in Marange.

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