ZCDC boosts diamond value addition

The Zimbabwe Consolidated Diamond Company (ZCDC) is intensifying its efforts to add value to natural diamonds as the global market faces a sharp decline in prices, driven largely by the rise of lab-grown alternatives.

Lab-grown diamonds - produced under extreme heat and pressure in controlled laboratory environments - now cost up to 85 percent less than natural stones. This affordability has disrupted traditional markets and posed serious challenges for natural diamond producers worldwide.

The global diamond industry has also been hit by a slowdown in luxury goods demand, further depressing prices. The ripple effects are being felt across jewellery manufacturers, mining firms, and diamond-dependent economies.

In response, ZCDC is ramping up operations at its Deep Boiling Facility in Chiadzwa. The advanced deep boiling and acidisation process removes impurities and enhances the lustre of diamonds, significantly increasing their market appeal and value.

According to company officials, the initiative is part of ZCDC's broader strategy to optimise the value chain by processing and refining its gemstones locally before export.

The move is in line with the Government's value addition and beneficiation agenda - a key pillar of Zimbabwe's economic transformation strategy aimed at creating employment, boosting foreign currency earnings, and diversifying the economy.

By investing in local processing capacity, ZCDC hopes to cushion Zimbabwe's diamond sector from global market shocks while positioning the country as a competitive player in the evolving diamond industry.