Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

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