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SA’s Vutomi project can start production end of 2018 – John Teeling

Botswana Diamonds entered into an option and earn-in agreement with Vutomi Mining and Razorbill Properties, a private diamond exploration and development firm in South Africa last February. It agreed to pay Vutomi a total of £942,000 in cash, of which...

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Proximity doesn’t matter, your pocket does: Tanzanians interested in tanzanite jewellery can testify

Tanzanite, a rare blue/purple gem, was discovered in the Merarani Hills of Manyara Region in northern Tanzania in 1967, a few miles from Arusha and Mount Kilimanjaro. It is used as a gemstone and of late Tanzanians are manufacturing quality jewellery...

19 june 2017

Global demand for polished diamonds will remain steady – Ali Pastorini

Ali Pastorini, senior vice-president of the World Jewelry Hub, answered questions from Rough & Polished concerning the world diamond market, preferences of consumers and role of bank crediting.

13 june 2017

Eternal values in Malaya Bronnaya Street

The assay supervision in Russia is 317 years old. Much younger is the Moscow Gemological Certification Centre (MGCC) established under the Assay Chamber and located in the same ancient respectable mansion at 18, Malaya Bronnaya Street. The MGCC employees’...

05 june 2017

Diamonds will have the greatest potential in 2017

Mumbai-based Rajesh Bhagat, India Consultant of Hong Kong Trade Development Council (HKTDC) who oversees HKTDC’s operations across India, Sri Lanka and Bangladesh, has been assisting companies, particularly small and medium enterprises (SMEs) in the...

29 may 2017

Zim jewellery firm targets foreign markets as local economy struggles

12 january 2017
Aurex Holdings, a jewellery company in Zimbabwe, said it has been finding it difficult to grow its business on the local market due to a decline in disposable incomes and general liquidity in the country.
NewsDay quoted company general manager Paipa Munhumutema as saying that the development had forced jewellery maker to step up efforts to sign partnerships with international players.
Aurex said its market share had only grown slightly despite a 50 percent jump in their bridal jewellery business, forcing the company to shift focus to the international market.
Munhumutema said the jewellery manufacturer was in talks with a “known player” in the international diamond cutting industry to help them get a foothold into the international marketplace.
“This is an area that takes time to grow because we need to align with international partners to enter the space. For the last year, our focus was to actually get into technical partnerships with a company that has got a foothold on the international market. We are almost concluding talks with one technical partner, whom we hope will give us access in the international market,” he said.
“In terms of the various products, there is fashion jewellery and bridal jewellery. On the bridal jewellery side, I think we have got a bigger market share, there and are more than 50% in terms of being active on that market, but it is a market where we need to do more.”
Aurex, a subsidiary of the Reserve Bank of Zimbabwe, had eight retail stores across the country.
It bids for rough cut diamonds from auction floors at the Minerals Marketing Corporation of Zimbabwe and Murowa auction floors, which it then cuts and polishes for resale.

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

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