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Russia diamond supply squeeze may benefit Zimbabwe miner’s gems

Published

3 years ago

March 22, 2022

BY GODFREY MARAWANYIKA

Zimbabwe’s biggest rough diamonds miner sees Russia’s invasion of Ukraine triggering “far-reaching consequences” for the global gem industry and possibly lifting demand for its own stones.

Russia’s Alrosa is the world’s biggest diamond producer by volume at 30 percent and the slightest disruption to its ability to supply distorts the market, according to Zimbabwe Consolidated Diamond Company (ZCDC) chief executive officer Mark Mabhudhu.

“It may end up creating the supply gap that may drive demand for our product, as well as that of other players,” he said in an interview Monday.

“However, we don’t wish for the worst case, but if it happens we will be able to sell our production.”

The southern African country is targeting US$12 billion of mining industry revenue by next year, and state-owned ZCDC plans to contribute US$1 billion of that, Mabhudhu said.

The company had the “best year so far” in 2021 after exceeding its three million carat production target by 30 percent, which resulted in profit for the first time since its inception in 2015.

It produced 2.3 million carats of diamonds in 2020.

“For 2022, we are set to not only achieve, but exceed our diamond production target by more than 40 percent when compared to the 2021 baseline target,” he said.

ZCDC will resume diamond auctions in April after an eight-month hiatus as a result of the coronavirus and expects buyers from Dubai, Israel, India and South Africa, Mabhudhu said.

“We have sizeable parcels for sale and the ultimate quantum per sale is determined in consultation with our selling agent, the Minerals Marketing Corp. of Zimbabwe,” he said. – Bloomberg

Related Topics:Alrosa Russia’s invasion of Ukraine Zimbabwe Consolidated Diamond Company

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In the community

Victoria Falls man sentenced to six months for domestic violence

Published

1 day ago

August 15, 2025

VicFallsLive

BY STAFF REPORTER

A 33-year-old Victoria Falls man has been sentenced to 6 months imprisonment for domestic violence charges. The sentence was handed down by the Victoria Falls Magistrates’ Court.

The man, from Chinotimba, was arrested on August 3 for a domestic violence charge. According to the National Prosecuting Authority, the facts of the matter are as follows: a misunderstanding arose between the offender and his 32-year-old wife over money left in her jacket. Later that evening, the offender shouted at his wife before strangling her several times on the neck. The victim reported the matter to the police, which led to the offender’s arrest.

The court sentenced the offender to 6 months imprisonment, with two months suspended for five years on condition of good behavior.

A further four months were suspended on the condition that he performs 140 hours of community service.

National

Zimbabwe roads claim 24 lives over Heroes holiday

Published

2 days ago

August 14, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

A total of 24 people lost their lives on Zimbabwe’s roads during the 2025 Heroes and Defence Forces holidays, according to statistics released by the Zimbabwe Republic Police.

The police reported 196 road traffic accidents, 13 of which were fatal, between August 11 and 13. This represents a significant increase from the previous year’s figures, which saw 149 accidents and eight fatalities.

Reckless driving, mechanical faults, speeding, and overtaking errors were cited as major causes of the accidents.

Two major accidents occurred during the period, including a fatal crash on the Mutare-Masvingo Road that claimed the lives of six Zion Christian Church congregants. Another accident on the Bindura-Shamva Road resulted in four fatalities and 17 injuries.

The police have urged motorists to prioritize vehicle maintenance, avoid speeding and reckless overtaking, and adhere to road rules and regulations to prevent further loss of life.

In the community

Dete teen convicted for theft

Published

2 days ago

August 14, 2025

VicFallsLive

BY WANDILE TSHUMA

A Dete teenager has been convicted of breaking into a local shop and stealing goods and cash worth US$131.

Artwell Ncube, 18, of Lupote in Dete, was found guilty of aggravated unlawful entry by the Hwange Magistrates Court.

According to court records, Ncube used an unknown object to open the locked shop door between May 20 and 25, 2025. Once inside, he stole groceries, airtime, and US$50 in cash.

The shop owner unexpectedly returned to the premises on May 25 at midnight and found Ncube inside. The teenager fled, leaving some stolen items behind.

A subsequent police investigation led to Ncube’s arrest. Property worth US$31 was recovered.

Ncube was sentenced to 12 months’ imprisonment, which was fully suspended on condition that he repays ZWG3 516.04 to the complainant within six months and performs 110 hours of community service at Lupote Clinic which he started on Wednesday.