Russia Diamond Supply Curb May Benefit Zimbabwe Miner’s Gems
- State-owned mining firm produced 4 million carats in 2021
- Zimbabwean miner expects to exceed 2021’s record output
Russia’s Alrosa is the world’s biggest diamond producer by volume.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Zimbabwe’s biggest miner of rough diamonds sees Russia’s invasion of Ukraine triggering far-reaching consequences for the global gem industry and possibly lifting demand for its own stones.
Russia’s Alrosa is the world’s biggest diamond producer by volume at 30% and the slightest disruption to its ability to supply distorts the market, according to Zimbabwe Consolidated Diamond Co. Chief Executive Officer Mark Mabhudhu.