Despite a sage in Covid-19 cases across the globe and the shutdown in major production centres, rough diamonds demand is continuing to grow, signalling a solid recovery for the industry a gemstones, diamonds and mineral trading company has said.
According to Naurish Diamonds and Gold, a company with more than 30 years of experience in gemstones, Diamonds and mineral trading the continual growth and demand of rough diamonds show that the best time to invest in the diamond sector is now.
“This seems like the best time to invest in diamonds.” the company said through its Twitter handle.
According to President Emmerson Dambudzo Mnangagwa’s vision for the mining industry to become a US$12 Billion sector by 2023, diamonds are expected to fetch US$1 Billion annually by 2023.
However, the country has only three operating diamond mining firms struggling to reach half a billion in revenue. One of the diamond operating mines Murowa diamonds reportedly running out of diamonds and depleting high-grade gems.
World largest diamond producer, Russia’s Alrosa is still carrying out exploration to find out the viability and richness of the diamond resource in the country.
The country should serious consider investing in the diamond industry if the US$12 billion mark is to be achieved by 2023.
The rewards of successful exploration and development can be large if a mineral deposit is discovered, evaluated, and developed into a mine. For a mining company, successful exploration and development lead to increased profits. this means the country needs to consider investing in exploration through issuing more EPOs if the country is to achieve the projected US$12 Billion mining sector and the US$1 Billion for diamonds.