Platinum’s rare nature gives it additional value and appeal

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

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

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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Zim may use diamond, gold export earnings to secure Chinese financing

13 may 2014

Zimbabwe will likely use gold and diamond export earnings to guarantee new and outstanding Chinese loans, a government official has said.
Bloomberg quoted deputy mines minister Fred Moyo as saying that discussions between Harare and Beijing were currently taking place.
“A third possible mineral is chrome, but we feel gold is more stable,” he said.
Chinese Ambassador to Zimbabwe Lin Lin confirmed that discussions were underway between Harare and Beijing on the provision of a financial package to fund the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset).
Zimbabwe needs at least $10 billion to successfully implement the economic blueprint spanning over five years, 2013 to 2018, The Herald reports.
“My Government is committed to give our support to Zimbabwe’s economic recovery,” said Lin.
“What I can say now is that the two sides are carrying out discussions on lines of credit provided by Chinese financial institutions as proposed by Zimbabwean side using your minerals as kind of security.
“We are looking forward to reach a kind of an agreement on that issue and I hope sometime this year.”
Meanwhile, the head of the Centre for Natural Resource Governance (CNRG) Farai Maguwu was quoted by SW Radio Africa as saying that it was wrong for the Zimbabwean government to be trading off the country’s mineral wealth.
“The government should be doing a thorough exploration of what the country has underground, and then engage investors who can mine and trade in our minerals for the benefit of the country,” he said.
“Zimbabwe does not need a loan to kick-start the economy. What we need is a conducive business environment that is attractive to genuine foreign investors.”
Zimbabwe owes China about $1.5 billion in loans taken out since 2011, Bloomberg reports.

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