Johannesburg/London/Windhoek/Lusaka — Billionaire, Lev Leviev, who made his fortune undercutting De Beers’ former diamond monopoly, 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 Democratic Republic of Congo, Kombadayedu Kapwanga, MD of Leviev’s Namibian unit, said by phone. The operation has been renamed Gemcanton Investments Holdings. A spokesperson for Africa Israel Investments, a listed company in which Leviev is the biggest shareholder, didn’t return phone calls or e-mails seeking comment. A spokesperson at LLD Diamonds, Leviev’s jewellery business, didn’t return calls either. Leviev used his Israel-based diamond unit to purchase half of Grizzly, Kapwanga said, without providing further details. The move into emeralds marks a change of course for Leviev. Born in Soviet Uzbekistan before fleeing to Israel in 1971, he worked as an apprentice in a diamond-polishing plant and e...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.