The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

Yesterday

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

Zim to sign diamonds for fuel deal with Alrosa, Swiss firm – report

25 november 2019
The Zimbabwean government is set to sign a three-year diamond for fuel deal worth about $1.4 billion with Russia’s diamond producer and a Swiss firm, according to local media reports.
The southern African country is experiencing intermittent fuel supplies.
Unnamed sources cited by Business Times said the deal is set to be inked this week.
Alrosa will receive diamonds from the state-owned Zimbabwe Consolidated Diamond Company (ZCDC) every month with an estimated value of $40m, insiders said.
“The deal is expected to come into effect in 2020 and the diesel supplies will run for a period of three years,” the source said.
Harare is said to be concluding a sale purchase contract with a Swiss firm, Tatneft, which will provide diesel in exchange for diamonds from the ZCDC.
“Due to fluctuations on the global market, Tafneft will have the liberty to reduce the value of the diamonds by 30%,” said the source. “The diesel will be supplied via the Port of Beira. Under this arrangement, Tatneft is expected to deliver high quality diesel 50 ppm [parts per million].”
Meanwhile, Alrosa's spokesperson said that this information has nothing to do with reality and the company has no relation to the activity described in the published article.
Alrosa has already partnered with ZCDC for diamond exploration and mining. However, it will only start mining if it takes a majority stake in any project.
Zimbabwe is planning to more than triple its diamond output to 11 million carats by 2023 from 3.2 million carats last year.

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