Browsing: diamonds

Riozim Limited the Zimbabwe based, and Zimbabwe Stock Exchange-listed diversified miner, has more going wrong for it than right. For…

Even though the country knows that diamonds are a finite resource, it still holds the world’s richest mine and is the biggest producer of gem diamonds. The country has become something of a role model for good development, powered by diamond mining.
20 percent of Botswana’s gross domestic product comes from this one commodity.
It propelled the country from the second poorest country in the world in 1966, at US$70 per person per year, to a middle-income country in 2021. Botswana estimates the diamond economy will start dropping in 2030.

To get their hands on Zimbabwe’s diamond, they conspire with the country’s top government officials and according to the leaked papers, the corruption runs deep, all the way to the very executive.

Makes you wonder, what is hurting the Zimbabwean people more, the US sanctions or the internal usurping of millions of dollars by corrupt government officials and their international partners in crime.

Zimbabwean diamonds go for as high as USD12 000 per carat. To get a picture of how much this racket is worth, consider report findings that have revealed that 350 000 carats of round diamonds worth an estimated USD140 million dollars have disappeared from the Minerals Marketing Corporation of Zimbabwe (MMCZ) and the Zimbabwe Consolidated Diamond Company (ZCDC) repositories.

Zimbabwe has one of the most diverse mining sectors I have ever come across. The country’s soil is rich in…

For those investing and particularly interested in Africa, Guinea-Bissau is a country which, so far, has been “under the radar” for…

Zimbabwe expressed concern over the United States’ ban placed on its diamonds to prevent it from being imported over concerns…