Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

Vast Resources loss narrows as it prepares to mine Marange diamonds

22 january 2020

VAST_Resources_logo.jpgVast Resources, which has an interest in Zimbabwe’s Marange diamond fields and the Baita Plai Polymetallic Mine in Romania, has recorded a loss after tax of $3.5 million for the six months to 31 October, 36% decrease compared to $5.5 million, a year earlier.
Foreign exchange losses also contracted to $800,000 from $1.4 million in the six months.
Vast’s cash balance for the period was $1.2 million compared to $775,000 in 2018.
 “This has been a busy and critical period in the company’s development,” said Vast chief executive Andrew Prelea.
“We were able to register some notable accomplishments in the half-year and after the period end that provide the necessary operational and financial platform to allow the company to begin to unlock the underlying value of its key assets, the Baita Plai Polymetallic Mine and the Chiadzwa Community Diamond Concession.”
Vast Concluded a joint venture with Chiadzwa Mining Resources, a company designated to represent Chiadzwa Community interests in the Chiadzwa Community Diamond Concession.
Continued discussions to finalise the joint venture agreement with Zimbabwe Consolidated Diamond Company (ZCDC), which will enable the concession to procure a special grant for the mining of diamonds. 
Vast also revised an agreement with Botswana Diamonds, which will see the latter acquire a 2.5% interest in the cashflows generated from Vast’s share in the Chiadzwa concession in exchange for providing “know-how for all aspects of exploration, mining, processing and marketing”.

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