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...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Formation of ZCDC has worsened the situation in Marange – report

12 june 2020
_news_12062020_zcdc.png
Image credit: ZCDC


The formation of the Zimbabwe Consolidated Diamond Company (ZCDC), following the removal of several companies that were operating in Marange, has worsened the situation than the anticipated changes.
Zimbabwe Environmental Law Association (ZELA) board member Tumai Murombo was quoted by Chat263 as saying during a webinar that the country had failed to generate meaningful diamond revenue since the formation of ZCDC.
Harare had cited failure to declare all diamond revenue to the central bank and smuggling as one of the reasons why it refused to extend mining permits of former Marange miners.
“Up to now really if I am to be asked what we have benefited from Marange diamonds, it’s very difficult to pin point…but given the pronouncements government has made before it should not be difficult,” he said.
“We have a big challenge in terms of lack of political will, not only to develop laws, we still have a specific diamond outstanding, we still have Mines and Minerals Bill remaining a bill…as long as they remain bills or draft policies we are going nowhere.” 
Mines and mining development minister Winston Chitando said last March that the diamond sector realised $165 million in 2019 compared to $98 million in 2018.  
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.   
The country is planning to more than triple its diamond output to 11 million carats by 2023 from 3.2 million carats in 2018.
Marange produced 12 million carats at its peak in 2012.

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