Industry News by Nemesis

The Russia-Africa Economic Forum in Sochi to Address the Challenges of Diamond Industry

October 23, 2019

The Russia-Africa Economic Forum has started today in Sochi, during which the leaders of the diamond industry will discuss the latest trends in the diamond industry and the problems that it has faced in recent years, according to media reports.


Thus, the industry stakeholders will be able to share their experience during a discussion session on “Cooperation between Russia and Africa in the diamond industry”, says lenta.ru.


Russia is the leader in world diamond production, and in Africa, there are 15 diamond producing countries.


More than 47% of the world's diamond reserves are concentrated there, while Russia has advanced technologies and experience in the fields of exploration and development of diamond deposits, so such a transcontinental union may bring many advantages to the diamond producing countries.


Russia, represented by ALROSA, is already cooperating with three African countries - Angola, Botswana and Zimbabwe.


Recently it was reported that Alrosa will conduct diamond exploration and mining operations in Zimbabwe together with the state-owned Zimbabwe Consolidated Diamond Company (ZCDC).


Winston Chitando, the country's mining minister, said last week that mining operated by four companies, including Russia's ALROSA, will help boost diamond output, mainly in Marange.

 

Source: Rough&Polished

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