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...

19 august 2019

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."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

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

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

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

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

Vast Resources raises £655k to fund Zim diamond operations

13 august 2019

VAST_Resources_logo.jpgVast Resources has raised £655,000 through a placing and subscription for strategic operational requirements in Zimbabwe.
The company issued 595.5 million shares at a price of 0.11 pence per share.
The subscription was undertaken by a new institutional investor, who will also be issued 34.0 million warrants.
Vast is looking forward to mine alluvial diamonds on the Heritage Concession, in Marange, once it receives a licence from Harare.
It projected to recover a grade of 50 carats per 100 tonnes and a sales price of $58 per carat.   
It said last month in a corporate presentation that independent geological assessment quoted grades for the area as typically 100-200 carats per 100 tonnes and average prices of $80 per carat.  
Projections also indicate revenue after six months of $13.25 million per quarter on expenditure of $7.25 million per quarter after initial operating requirement including capital expenditure of $5 million. 
Vast will establish a joint venture with the with the Zimbabwe Consolidated Diamond Company (ZCDC) with a view to developing, mining and marketing diamonds produced from the concession on a profit share basis with Vast receiving up to 75% of profits including management fees. 
Vast said it continues to progress its financing discussions and maintains its production targets by the end of 2019.

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