Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

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