Ethical sourcing and Diamonds Standards Organization

The diamond sector is ready to embrace a new decade and overcome some of its historical challenges. Ethical sourcing has proven to be undoubtedly one of the main aspects that industry professionals need to address. Antonio Cecere, President of Geneva...

Yesterday

Ali Pastorini: Challenges make us think out of the box and be closer to customers

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

20 january 2020

Today’s customer needs an offer of something unique that others do not have

Oksana Senatorova is the publisher of the Jewelry Trade Navigator magazine and the founder of the Jewellery Business Academy.
She graduated from I. M. Sechenov Medical Academy and the Faculty of Psychology of Lomonosov Moscow State University...

09 january 2020

Inventories accumulated by De Beers, ALROSA to put ceiling on prices near-term even if demand substantially picks up – Zimnisky

As we are in the last month of 2019, it is prudent to examine what the diamond industry went through and the possible trajectory in the upcoming year. Industry expert, Paul Zimnisky spoke with Rough & Polished’s Mathew Nyaungwa to discuss this and other...

30 december 2019

Empowering customers and engaging more with our stakeholders is the new Mission

The unassuming Govindbhai Laljibhai Dholakia, Chairman, Shree Ramkrishna Exports Pvt Ltd (SRK) is not just an ace businessman but a noted philanthropist. He has contributed immensely to social welfare with special focus on education … a noteworthy...

23 december 2019

ALROSA and ZCDC set up a joint venture in Zimbabwe

26 december 2019

ALROSA and the Zimbabwe Consolidated Diamond Company (ZCDC), a diamond mining company, have entered into an agreement to create a joint venture for prospect and exploration works for primary diamond deposits in the Republic of Zimbabwe.
The agreement was signed by Sergey Ivanov, ALROSA CEO, and Killian Ukama, Eng., a Non-Executive Board Chairman of ZCDC., according to the ALROSA website.
“We are focused toward productive prospecting and exploration for primary diamond deposits in the Republic of Zimbabwe. Signing current agreements allows us to form the company’s administration and to initiate procedures required to get necessary permissions and licenses. Getting authorization and first prospecting special grants, JV will be ready to operate. Being a member of Responsible Jewellery Council, World Diamond Council and Diamond Producers Association, ALROSA complies in full with industry commitments on responsible business practices and its own corporate standards. ALROSA is committed to follow these principles strictly while working in the Republic of Zimbabwe”, Sergey Ivanov said.
According to the agreements, ALROSA owns 70% of ALROSA (Zimbabwe) Limited JV, Zimbabwean state-owned diamond mining company gets 30%
Zimbabwe previously barred foreign-owned companies from earning more than 49% in diamond and platinum projects.
However, Harare decided to drop its indigenisation policy following the deposing of the late president Robert Mugabe in 2017.
ALROSA chief executive Sergey Ivanov previously said his company will invest an initial $12 million in the venture.
According to him, ALROSA sees a lot of potential and will invest more in the coming years depending on the outcome of the exploration.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg