Online Reporter
Nqobile Bhebhe,Zimpapers Business Hub
THE Zimbabwe Consolidated Diamond Company (ZCDC) is stepping up efforts to add value to its natural diamonds in response to the growing dominance of lab-grown diamonds, which has triggered a significant global slump in diamond prices.
Synthetic diamonds, produced in temperature-controlled laboratories using intense pressure and extreme heat, can cost up to 85 percent less than natural stones, posing a major challenge to traditional diamond producers.
Worldwide, diamond prices have been falling sharply due to the slowdown in the luxury goods market and the surge in demand for lab-grown alternatives.
The downturn has far-reaching implications for jewellery manufacturers, mining companies and diamond-producing nations whose economies rely heavily on the gemstone trade.
ZCDC is thus ramping up its Deep Boiling Facility in Chiadzwa to enhance the value of its natural diamonds.
The deep boiling and acidisation process removes impurities and enhances the final lustre of gemstones, significantly improving their market value.
The plant is part of the company’s strategic development programme, which seeks to enhance the value of its precious stones before selling them to maximise revenue.
The initiative aligns with the Government’s thrust under the value addition and beneficiation drive, a key pillar of the country’s economic transformation agenda aimed at creating jobs, boosting revenues and diversifying the economy.
Continues on www.chronicle.co.zw
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