“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

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13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

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29 april 2019

De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

22 april 2019

Zimbabwe yet to lift ownership restrictions on diamonds

23 april 2019

Zimbabwe needs time to assess the potential of the diamond industry before it lifts restrictions on diamond operations, a government official has said.
There are prospects of discovering diamonds in southern Masvingo.
Finance minister Mthuli Ncube recently told Bloomberg that the local ownership law would be scrapped for all minerals.
However, deputy mines minister Polite Kambamura said Harare would in the meantime continue insisting that local investors retain control in diamond mining until they are aware of the diamond industry prospects, let alone pass necessary the law. 
 “It has to be put down in legislation and the government is finalising that,” he said.
“It will happen very soon.”
Zimbabwe revised the empowerment law in March 2018, but limited majority ownership by locals and State-owned companies to only diamond and platinum mines.  
Zimbabwe’s Chamber of Mines president Batirai Manhando said ownership restrictions on platinum group metals and diamond operations should be dropped. 
 “The indigenisation regulations have been scrapped except for platinum and diamonds, we would also want this law scrapped officially so we can get industry players coming in,” he was quoted by Bloomberg as saying at a conference in Johannesburg last week. 
“These are areas that require huge capital and if you put restrictions I don’t think you would be able to attract a lot of capital.”
Russian diamond miner Alrosa, which was selected to partner a state diamond company, wants a majority stake to mine diamonds in Zimbabwe.
 “Of course we’ll only be ready to participate in projects in cases where we can have management control and operational control of the assets,” Alrosa chief executive Sergey Ivanov said last month. 
Alrosa, the biggest diamond producer by volume, was expanding in Africa, where Zimbabwe and Angola remain under-explored.

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