Our main role is to inspire consumers to consider diamonds - Jean-Marc Lieberherr

With over 25 years of experience in a variety of leadership positions across many geographies, functions and businesses, Jean-Marc Lieberherr has more than 10 years’ experience as a diamond industry leader, which includes as a Board member of the World...

Today

Training in diamond valuation is key for artisanal miners

Ian Rowe, the Executive Director of the Diamond Development Initiative (DDI) was appointed in September 2019, having joined DDI as Deputy Executive Director a year earlier. Ian managed field operations in Sierra Leone within this role and led...

02 december 2019

Kangalassi 2.0: Raising the living standards, creating new jobs

At the V Eastern Economic Forum (EEF) held in early September in Vladivostok, the Yakut company SAYBM signed a tripartite agreement with two agencies - the Far Eastern agency and the regional one - for attracting investments and providing export...

25 november 2019

We live in a new dimension of environmental responsibility carried by business

In mid-October, Moscow hosted the VIII Ecological Forum attended by representatives from the State, large industrial companies, scientific and public organizations. The forum delegates discussed the issues related to finding a balance between the socio-economic...

18 november 2019

De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Zim under fire for lowering diamond royalty

28 november 2019
Zimbabwe has come under fire for its plans to review the royalty on diamond from the current 15% to 10% of gross revenue from 1 January, 2020.
Mining rights advocacy groups cited by Chat263 said Harare slashed the diamond royalty to appease investors instead of up-scaling its exploration capacity in the diamond sector.
Centre for Research and Development director James Mupfumi said the 33% reduction will not result in improved production if diamond extraction remained shrouded in secrecy.
The country’s finance minister Mthuli Ncube said earlier this month in his presentation of the 2020 National Budget Statement to Parliament that diamond miners are now exploiting conglomerate deposits, hence the cost of extraction has significantly increased.
“In order to promote investment in exploration and extraction, I propose to review the royalty on diamond from 15% to 10% of gross revenue, with effective from 1 January, 2020,” he said.
Diamond miners had lobbied government to lower the royalty arguing it was too high compared to neighbouring countries coupled with high cost of mining conglomerates compared to alluvial stones as was the case when Marange alluvial diamond fields were discovered in 2006.
Diamonds are expected to add at least $1 billion to the $12 billion that Zimbabwe is expecting the mining industry to contribute to the country’s gross domestic product by 2023.
Zimbabwe is also 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