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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.