Monday, June 5, 2017

Billionaire Leviev adds Zambia emeralds

Billionaire Lev Leviev has bought half of one of Africa’s biggest emerald mines.

Leviev bought into the Grizzly emerald mine in Zambia’s Copperbelt province, which borders the DRC. Leviev used his Israel-based diamond unit to purchase half of Grizzly. The move into emeralds marks a change of course for Leviev. Emerald prices have soared by more than tenfold in the past eight years.