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

Botswana Diamonds, Vast revise agreement over Zim diamond concession

29 november 2019

Botswana Diamonds and Vast Resources have signed a new agreement in respect of their proposed joint venture (JV) in Marange area, in Zimbabwe.
The two companies had previously concluded an agreement for the development of Heritage concessions in the Marange diamond fields and that a separate agreement would cover the joint development of diamond properties outside of the Marange diamond fields. 

    Image credit: Botswana Diamonds

Vast then recently entered into a joint venture agreement with Chiadzwa Mineral Resources to establish Katanga Mining.
Katanga intends to conclude a joint venture agreement with the Zimbabwe Consolidated Diamond Company (ZCDC) for the purpose of exploring and mining at the Chiadzwa community diamond concession as well as marketing diamonds mined from the operation.
Botswana Diamonds said it will be issued with new shares representing 2.5% of Katanga when the detailed agreement between Katanga and ZCDC becomes effective.
“Zimbabwe is opening up to investment. The country is rich in resources and has significant diamond potential,” said Botswana chairperson John Teeling.
“…this a revised package from that on which Botswana Diamonds and Vast Resources had previously agreed to cooperate.”
Vast will provide all capital requirements for the project start on a loan account to Katanga, up to a maximum of $10-million.

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