Dolat Ventures targets Indian diamond, gold markets

Dolat Ventures, a diamond development company focused on its mining projects in West Africa, said it has plans to target India as a new resource for potential revenue.
It said in a statement that India had become the fastest-growing market for diamonds and gold.
Mining producers and wholesalers, Dolat said, were focused on gaining market share with the main Indian diamond jeweler and retailer Tanishq, already known to dominate the largest cities, Mumbai and Delhi.
In the past few years, diamond marketing campaigns had targeted India’s wedding market.
Forevermark chief executive Stephen Lussier said De Beers spends $4 million to $5 million per year on consumer marketing in India.
Meanwhile, Dolat president Dovid Hauck said the company’s future results may be “very exciting”.
“We continue to be focused on expanding our diamond resources at the Baimbawai Pool on the Sewa River, which has shown exciting potential to date,” he said.
“At current grades and diamond values, the Baimbawai Pool on the Sewa River potentially maybe one of the highest known value per ton kimberlites globally.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished