Another blow to Zimbabwe's diamond industry began new data showing that diamond mining in the country since the transition in ownership of the Marange fields of government decreased by 76%, IDEX Online reported with reference to the Daily News.
Published by the Central Bank of Zimbabwe, the information showed that the volume of diamond production declined in the first quarter of the year to 152,475 carats compared to 639,377 carats during the same period of the previous year.
Consolidated Diamond Company of Zimbabwe (Zimbabwe Consolidated Diamond Company, ZCDC) has been criticized for its alleged mishandling of a number of aspects of Zimbabwe's diamond mining, including in connection with the recent cancellation of the previous diamond companies licenses.
Minister of Extractive Industries Walter Chidakva (Walter Chidhakwa) also came under criticism for suggesting that ZCDC will sell about 500 000 carats of diamonds per month, or about 6 million carats per year, bringing suffering from a lack of funds the government an average of about $ 30 million per month, or approximately $ 360 million per year.
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Pandora Jewelry House said that, according to preliminary results of activity in 2015, its revenue jumped 40% to $ 2.44 billion. This is consistent with projections, announced in November.
Meanwhile, the positive impact of currency exchange rates was 11%, an increase of one percentage point compared with the previous forecast, the company said. In 2014, the company's revenue increased by 32.5%.
The company forecast sales above $ 2.34 billion in 2015.
All geographic regions contributed to the double-digit sales growth in local currency in the fourth quarter of 2015, primarily due to more successful than previously expected Christmas sales.
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