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Posts Tagged ‘Biggest Diamond’

Indian firms to encourage Zimbabwe diamond sales

Wednesday, October 27th, 2010

Indian diamond entrepreneurs are set to lobby their government to support Zimbabwe diamond sales.

Indian firms eager to capitalise on Zimbabwe's natural resources are set to ask their government to throw its weight behind the African nation's attempts to sell its diamonds.

Surat Rough Diamond Sourcing India Limited (SRDSIL), representatives of which were in Zimbabwe recently to pursue diamond deals, wants its government to make a stand ahead of next month's Kimberley Process meeting in Israel, the Herald reports

The meeting scheduled for Jerusalem is aimed at determining whether the country should be allowed to sell gems from the controversy-ridden Marange diamond fields in eastern Zimbabwe.

"We are confident Zimbabwe will be able to sell its diamonds appropriately. We are going to be represented by our government and we will lobby for its support," said SRDSIL chairman Ashitbhai Mehta.

However, efforts to sell Zimbabwe's diamonds on global markets are expected to meet stiff opposition from non-governmental organisations and other western agencies.

Meanwhile, the world's biggest diamond trade centre, the Bharat Diamond Bourse, opened in Mumbai recently.

India gets world’s largest diamond trade centre

Wednesday, October 20th, 2010

The Bharat Diamond Bourse - the largest of its kind in the world - has opened in India.

The world's biggest diamond trade centre has opened in India, approximately two decades after plans were first put forward.

The Bharat Diamond Bourse (BDB), located in Mumbai, is part of the country's bid to rival places such as Antwerp as a major trading hub for diamonds.

President of the BDB Anoop Mehata said traders will have finished moving in to the new site by December and one highlighted the numerous benefits over the previous offices, which were spread across three buildings in the south of the city.

"All segments of the diamond business will get streamlined by coming under one roof, ensuring economy of trade and better work conditions," remarked Darshan Lakhani of Mahima Gems.

Traders, banks, investors and a customs department will all be housed in the new facility, which features a secure room for storing diamonds that are due to be exported.

Elsewhere in the country, it recently emerged Alrosa, the Russian diamond mining firm intends to open an office in India and sign supply deals with three companies.

‘Doubts’ over benefits of Zimbabwe diamond find

Wednesday, October 13th, 2010

There are doubts as to whether the recent discovery of new diamond deposits in Zimbabwe will have any benefits for citizens of the country, it has been suggested.

According to the Zimbabwean, commentators have raised concerns that the government's involvement in extracting the precious metals may result in abuses of power.

Mines minister Obert Mpofu said to the Sunday Mail, a state-owned newspaper, that the administration is establishing a body to oversee the exploration of the sites in Binga, Tsholotsho and Masvingo, but there are worries that the outcome will be similar to that of Chiadzwa, where the government's takeover of a diamond mine resulted in the deaths of hundreds of illegal panners.

An unnamed individual was quoted by the news source as saying to SW Radio Africa that "rampant and systematic abuses are still occurring" in Chiadzwa, despite the Zimbabwean government saying otherwise.

The finds are expected to make Zimbabwe one of the biggest diamond producers in the world, as it is already home to a deposit of the precious stones in Manicaland. 

Zimbabwe claims new diamond discovery

Monday, October 11th, 2010

New diamond deposits have been discovered in various areas across Zimbabwe, one government official has revealed.

Mines minister Obert Mpofu said the administration is now working to accelerate examination of the sites in order to ascertain the quantity of the precious stones.

According to New Zimbabwe, citing the state-run Sunday Mail newspaper, deposits have been found in Tsholotsho, Binga and Masvingo.

It comes a few years after a find in Manicaland that is estimated to be one of the world's largest diamond resources and the latest discoveries are expected to make the country one of the biggest producers of the precious stones.

Restrictions are currently in place regarding the purchase of rough diamonds from Zimbabwe under the Kimberley Process and the some of the US's biggest diamond dealers recently met with the state department to discuss the issue, with Moshe Mosbacher of the Diamond Dealers Club of New York stating the country is "steadfast" on the matter.


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