• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech

Africa’s diamond mining industry under serious threat, CEO warns

February 9, 2018
Kleemann │ Interlinked PRO plant train impresses in the Caribbean

Kleemann │ Interlinked PRO plant train impresses in the Caribbean

January 27, 2023
EXPANDING THE VALUE PROPOSITION OF THE PDS

EXPANDING THE VALUE PROPOSITION OF THE PDS

January 19, 2023
advertisement
ADVERTISEMENT
2023 to Usher in Strong Growth in Mining and Industrial Private LTE Networks

2023 to Usher in Strong Growth in Mining and Industrial Private LTE Networks

January 19, 2023

Wirtgen South Africa holds annual dealer conference

January 17, 2023
Eriez-India Granted ISO 9001:2015 Certification

Eriez-India Granted ISO 9001:2015 Certification

January 13, 2023

Eurasian Resources Group and the University of Kolwezi develop curriculum to meet mining skills demand in the DRC

December 13, 2022

Another successful turnkey modular construction and transit solution from thyssenkrupp Uhde delivered to a key customer

December 13, 2022
Epiroc to acquire leading provider of collision avoidance systems for mines

Epiroc to acquire leading provider of collision avoidance systems for mines

December 13, 2022
New Cat® bolt-together buckets for underground loaders lower costs for assembly and transportation, reduce machine downtime

New Cat® bolt-together buckets for underground loaders lower costs for assembly and transportation, reduce machine downtime

December 11, 2022

EPSA and Immersive Technologies Partner in Global Mining Workforce Development

December 11, 2022

THE JUNIOR INDABA 2023

December 11, 2022
Atlas Copco and Reality Wellness celebrate their 20-year journey in putting employee well-being first

Atlas Copco and Reality Wellness celebrate their 20-year journey in putting employee well-being first

December 10, 2022
  • About AMB
  • Magazine Archive
  • Contacts
Friday, February 3, 2023
African Mining Brief
No Result
View All Result
  • Login
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive
MAGAZINE ARCHIVE
ADVERTISE
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive
No Result
View All Result
African Mining Brief
No Result
View All Result
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive
Home Botswana

Africa’s diamond mining industry under serious threat, CEO warns

by Matimu Mahundla
February 9, 2018
in Botswana, Diamond, Namibia
0

File: 910 carat diamond.

492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Namibia Desert Diamonds chief executive officer, Kennedy Hamutenya, is calling on all the Southern African region to join hands in the fight against the synthetic diamond industry as it was a threat to economic development on the continent.

Speaking on the sidelines of the 2018 Mining Indaba in Cape Town, Hamutenya said: “We need to join hands as an industry, come together against synthetic diamonds, the same way we have done with conflict diamonds. If they take the market, this has a drastic effect on development for Namibia and Botswana especially because we earn about 50% of our exports receipts from diamonds. This will affect development because these are development diamonds”.

According to a report by the News Day, Synthetic diamonds are branded as eco-friendly since they don’t lead to environmental degradation, displacement of families and wildlife leaving the market for real diamonds shrinking.

Sahag Arslanian, manging director of the Arslanian Group, however, said the market for diamonds, while taking a hit would not disappear to quickly because real diamonds had resale value.

“If one buys synthetic, there have cannot resell them at the same value they bought them, but real diamonds can actually go up in value, so this is a major advantage which will inform the market going forward,” he said.

Zimbabwe is an emerging diamond mining country with government taking over all diamond mining claims in the Chiadzwa area.

Mines minister Winston Chitando said the area was closed to outside investors, but they could mine in any other area. “Diamonds in other areas are open for investors, but on a 51/49% partnership with government,” he said.

Government recently amended the Indigenisation Act, removing ownership restrictions on foreign investors in all sectors of industry save for diamond and platinum mining.

A hit on the billion dollar industry could cost thousands of jobs.

A handful of demonstrators from the Democratic Republic of Congo picketed the Cape Town International Convention Centre as the diamond conference took place.

Meanwhile, Zimbabwe failed to dispatch personnel to man its information desk at the centre.

The stand, which generated interest from major mining players following the recent political developments, was occasionally manned by journalists from both the private and State media, who were using the booth to file stories.

The ministry did not despatch officers amid reports that they failed to get Cabinet approval to cut expenditure.

“The Mines ministry did not manage to send its team owing to lack of Cabinet approval, someone thought it was a waste of money,” a ministry official, who refused to be named, said.

Investors making inquiries had to leave their business cards and letters of expression of interest with journalists who were at the desk.

President Emmerson Mnangagwa, since assuming power, has been insisting that Zimbabwe is open for business. However, the boob at the indaba reflected something else.

Foreign investor, African Chrome Fields appeared to have bailed out the government by hosting a hugely successful “Zimbabwe is open for business breakfast” meeting addressed by Chitando.

Other countries in the region including Zambia, Mozambique, South Africa, Botswana and Namibia had well manned information centres with top government officials at the desk. Chitando said he was encouraged by the interest shown by investors.

Source: News Day

Tags: Diamond MiningPresident Emmerson MnangagwaSynthetic diamonds
Share197Tweet123Share49
Matimu Mahundla

Matimu Mahundla

Oct - Dec 2022 Magazine

  • About AMB
  • Magazine Archive
  • Contacts

© 2022 African Mining Brief I All Rights Reserved Powered by Clivo.

No Result
View All Result
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive

© 2022 African Mining Brief I All Rights Reserved Powered by Clivo.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In