Africa must act together in diamond industry: VP
Mukudzei Chingwere Herald Reporter
AFRICAN diamond-producing countries must act in unison in pushing for the growth of the diamond industry as well as ensuring that production benefits local communities and citizens, Vice President Dr Constantino Chiwenga has said.
Speaking at the 9th Ordinary meeting of the Council of Ministers of the Association of African Diamond Producing Countries in Victoria Falls on Thursday, VP Chiwenga called for an increase in exploration work and said Zimbabwe was pursuing investment opportunities in the mining sector on a mutually beneficial basis .
Mining concessions are needed…
Despite a global 20 per cent drop in rough diamond prices, the UAE’s rough diamond trade only decreased by 13 per cent year-on-year in 2023, maintaining robust volumes, DMCC reported. A total of $21.3 billion of rough diamonds were traded in the UAE in 2023.
Historically focused on rough diamonds, Dubai’s diamond industry now sees polished diamonds contributing 44 per cent to the total trade value. The Gemological Institute of America’s new laboratory in Dubai, opened in February 2024, is expected to boost the sector further.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said. “Our appeal to…
The shares of Koura Fine Diamond Jewelry were listed with a premium of 36.4% on the BSE SME platform on Thursday. The stock debuted at Rs 75 as against an offer price of Rs 55.
Ahead of the listing, the company’s shares traded with a GMP of Rs 60 in the unlisted market.
The IPO was completely a fresh equity issue of 10 lakh shares and through the issue, it raised around Rs 5.5 crore. The issue received strong response from investors with an overall subscription of over 600 times at close.
Net proceeds from the public offer will be…
