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Zimbabwe Vice President Visits Surat’s Hari Krishna Exports to Strengthen Diamond Sector Ties

Dr. Constantino Chiwenga highlights Zimbabwe’s push for value addition and welcomes Indian expertise in diamond cutting and polishing.

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Zimbabwe’s Vice President, General (Rtd.) Dr. Constantino Guveya Dominic Nyikadzino Chiwenga, recently visited the renowned diamond facilities of Hari Krishna Exports in Surat, signaling Zimbabwe’s growing interest in building stronger partnerships with India’s diamond manufacturing industry.

The visit marks a significant step in Zimbabwe’s broader goal to transition from simply exporting rough diamonds to developing domestic capacity in cutting, polishing, and value addition. Speaking during the tour, Vice President Chiwenga praised Surat’s precision-driven craftsmanship and the ethical standards that have helped establish India as a global leader in the diamond trade.

Highlighting opportunities for collaboration, he emphasized Zimbabwe’s openness to Indian expertise, particularly in skill development and training. “Such partnerships can generate sustainable livelihoods for Zimbabwean youth,” he noted.

In response, Hari Krishna Exports’ founder, Savji Dholakia, announced plans to train 50 young Zimbabweans each year in diamond cutting and polishing techniques. This initiative reflects a growing trend of India–Africa cooperation in the gemstone sector, with both resource-rich African nations and Indian manufacturing hubs poised to benefit from closer economic and educational ties.

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DiamondBuzz

Lucara Secures $50 Million Equity Boost for Karowe Underground Expansion

Lundin Family Trusts back CAD 70 million private placement to fund 2026 development plans

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Lucara Diamond Corp. has raised CAD 70 million (approximately $50.5 million) through a private placement of equity to support the advancement of its Karowe Underground Project (UGP) and strengthen its working capital position.

The company issued around 437.5 million shares at a price of CAD 0.16 per share, with the Lundin Family Trusts subscribing to the entire offering. The Lundin family controls Nemesia, Lucara’s largest shareholder, reinforcing its long-term commitment to the miner’s flagship Botswana operation.

Proceeds from the financing will be primarily used to progress the Karowe UGP, a key growth initiative aimed at extending the life and value of the mine, alongside general corporate and working capital requirements.

Commenting on the transaction, Lucara President and CEO William Lamb said the support from the Lundin Family Trusts highlights the strategic importance of the underground expansion. He added that the funding will position the company to accelerate critical project milestones planned for 2026.

The private placement is subject to customary regulatory approvals, including acceptance by the Toronto Stock Exchange, and does not require shareholder approval. Lucara expects the transaction to close by the end of the month.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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