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Diamond manufacturers must use technology to react swiftly to changes in the market

One of the original founders of Sarine, Uzi Levami has a long history of founding high-tech companies. He was awarded the prestigious Israel Defense Award in 1992 by then President Chaim Herzog, for his endeavors on a development project for the Israel...

20 march 2017

A mined diamond can bring an extra depth to the significance of a jewellery piece

Award-winning designer Sarah Ho, was born in Hong Kong and grew up in Macau before moving to London to enrich her skills in design and gemmology. Sarah’s inspirational designs are a sentimental reflection of the different chapters in her life and her...

13 march 2017

‘I will run my chair in a very transparent, open fashion’ – KP Chairperson

Australia’s Robert Owen-Jones took over as this year’s Kimberley Process Chairperson amid tension between the civil society and the United Arab Emirates (UAE), which chaired the diamond watchdog last year. The civil society coalition boycotted UAE’s...

06 march 2017

Giving beauty to people as a gift

The ‘Kierge’ jewellery house is a large firm manufacturing and selling jewellery and is a famous Yakutian brand. Over its 23 years of experience, the company was repeatedly the winner of national and international contests like ‘The Recognition by St...

27 february 2017

IDE's Yoram Dvash: 2017 shaping up to be more positive

After a tough 2015, last year provided the diamond industry with more stability and 2017 could be even better, says Yoram Dvash, President of the Israel Diamond Exchange (IDE) and Vice-President of the World Federation of Diamond Bourses (WFDB). In this...

27 february 2017

Endiama rules out additional investors for Luaxe kimberlite project

16 february 2017
Angolan state diamond company, Endiama said it is currently negotiating with its partner, Alrosa of Russia for the financing of the Luaxe kimberlite project and will not seek additional investors.
Endiama and the Russian diamond giant discovered Luaxe in 2015.
Macauhub quoted company’s chairperson Antonio Carlos Sumbula as saying that the diamond companies would raise the funds on their own.
Alrosa president Andrei Zharkov said last September that capital investments in Luaxe project during its mine life was estimated at $1 billion.
The project, which was expected to begin diamond production within three to four years, was projected to record an annual output of between 8 million carats and 10 million carats.
It was bigger than the Catoca, which currently produces about 80 percent of the country’s total diamond output.
Catoca, the fourth largest kimberlite in the world, was also partly-owned by Endiama and Alrosa.
Meanwhile, Sumbula said Endiama would slightly reduce production to improve revenue until Luaxe starts operating.
“When the company was producing 8 million carats revenue was $1.2 billion, but in 2016, with production of 9 million carats, revenue fell to $1.07 billion,” said Sumbula.
“Our intention is to work towards more revenue, based on a drop in production.”

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

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