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Tanzania confiscates diamonds from British mining company

The Tanzanian government has announced the seizure of diamonds worth an estimated $29.5 million after accusing British company Petra Diamonds, of undervaluing the worth of the gems. Minister of Finance Philip Mpango stated on Sunday that he had “nationalized” these diamonds, extracted from the Williamson Diamonds mine, 75% owned by …

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Tanzania president orders officials to resign over diamond probe

Tanzania’s President John Magufuli said on Thursday he had ordered a review of a contract belonging to Petra Diamonds Ltd in Tanzania and asked senior public officials to resign over the outcome of a probe into the sector. “I have endorsed all the recommendations of the parliamentary probe committees for …

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Namibia’s underwater diamond harvest

In the Atlantic Ocean, off the coast of Namibia, you will find some of the world’s most valuable diamonds scattered like lost change. The discovery of such gems has sparked a revolution in one of the world’s most storied industries for the precious stones buried just under the seafloor. “Our …

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Namibia unveils world’s largest diamond exploration ship

Anglo American’s (AAL.L) diamond unit De Beers on Thursday launched the world’s largest diamond exploration vessel off the coast of Namibia as it looks to maintain high production levels until 2035. The 12,000-tonne, 113-metre-long SS Nujoma was built at a cost of $157 million and is named after Sam Nujoma, …

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Indian ambassador urges value-addition of diamonds

Zimbabwe should partner with other countries to establish a diamond cutting and polishing centre if the country is to benefit from value-addition of its gemstones, Indian ambassador to Zimbabwe, Rungsung Masakui has said. The Indian envoy made the remarks at a public lecture titled Unlocking Zimbabwe’s Gemstone Wealth: Lessons from …

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New diamond ‘find’ in Mutare

Thousands of families could be relocated from Penhalonga, just outside Mutare amid claims that rich diamond deposits have been discovered in the area, although the government is dampening expectations. This comes as production at the Marange diamond fields also in Manicaland, has plummeted to all-time low due to the government’s …

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