A month ago, the Surat Diamond Sourcing (India) Limited (SDSL) was established as a representation of a number of diamond firms in India’s polishing centre Surat. The group searches for direct sourcing of rough diamonds from miners and has sent a high level delegation from the company, including industry leaders, to Zimbabwe to explore possibilities for rough diamond sourcing.
The delegation to Zimbabwe is to include 25 to 30 people, including SDSL officials, representatives from the Indian diamond trade, bankers, and members of the Confederation of Indian Industry which is organising the visit.
SDSL has a wide membership of 40 firms and others expected to join. The group is focused on accumulating funds to enable it to purchase large quantities of rough diamonds which will then be sold to its members on tender basis.
"With this kind of funds, we will be in a position to talk with any mining company or government for purchasing rough stones directly," said, Mehta, Chairman of the SDSL and Managing Director of Blue Star Diamonds.
Mehta told Indian newspaper Daily News and Analysis, "We at SDSL are keen to establish a long-term relationship with Zimbabwe, which is going to be a key producer of rough diamonds in the future,
"We want to have a long-term direct sourcing arrangement, and this is what we will convey to the authorities concerned during our meetings."
The visit to Zimbabwe will take place from 27th to 30th September. The delegation group is scheduled to meet other companies engaged in diamond mining in the country, as well as Zimbabwean government ministers and officials.
Aagam Sanghavi, a member of the SDSL explained that "the upcoming visit is aimed at introducing SDSL to Zimbabwe. We want to explore all opportunities for direct sourcing of rough diamonds.”