Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 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