The mines department said it was sending a team comprising of geological and mining experts to the site to collect samples and conduct an analysis.

Diamonds are a complicated business; more than almost any other resource sector, the pricing framework needed to be accurate. It wasn’t.

After a 2020 saw a near shutdown of the diamond market for half the year as a result of pandemic-related travel restrictions, diamond prices have bounced back in 2021.

It takes about three months to cut, polish and sell a diamond, so stones bought cheaply at the start of the year are now being sold for a big profit.

The government is preparing a decree to increase planned sales of diamonds from the state repository.

Companies are feeling increased pressure from shareholders and institutional investors to prioritize ESG factors.

Zimbabwe Consolidated Diamond Co.’s mines produced 2.3 million carats worth of diamonds in 2020 and mostly sold them to India and the Middle East.