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Lucapa to become a niche diamond company, says Wetherall

Lucapa Diamond believes that it will become the only company in the world with multiple diamond mining operations whose average diamond value is in excess of $1,000 per carat, once the Mothae mine is commissioned this year. Company chief executive and...

19 february 2018

Zimnisky: Diamonds lack fungibility to be a major investment product

Physical diamonds will never be a viable widespread investment product simply because they inherently lack fungibility, meaning they are all unique, according to Paul Zimnisky, an independent diamond industry analyst and consultant, who is based in New...

12 february 2018

Julien-Vincent Brunie: "Being surrounded by beauty and art is a privilege!"

This last December, shortly before Christmas, the Auction House of Christie's arranged a private display of jewelry in Moscow. The correspondent of Rough & Polished, who had an opportunity to visit this event, was able to admire a luxurious collection...

05 february 2018

Ali Pastorini: We would like meeting Mujeres Brillantes 2018 to be held in Russia

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 500 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

29 january 2018

Diamond Exchanges promote healthy development of the diamond industry, besides safe and basic infrastructures for diamond trade

Prior to joining the Guangzhou Diamond Exchange, Liang Weizhang served as a civil servant of Guangdong Entry-Exit Inspection & Quarantine Bureau as the director of the Kimberley Process Office. He participated in the KP Review missions to South Africa...

22 january 2018

Namibia anti-corruption commission ‘drops’ diamond firm probe – report

17 february 2017
Namibia’s Anti-Corruption Commission (ACC) has reportedly “dropped” an investigation into whether the state-owned Namib Desert Diamonds (Namdia) deliberately sold the country’s diamonds cheaply to Dubai-based firms.
The Namibian newspaper had previously claimed that Namdia sold the country's diamonds for a song to the Arabs who then went on to sell the diamonds at a higher price in the Middle East.
It cited sources claiming that Namdia sold diamonds for US$500 per carat in Windhoek, but the same diamonds were then sold abroad for $2 500 per carat.
The country’s mines minister Obeth Kandjoze dismissed the allegations.
However, this did not stop the ACC to establish whether the diamonds were indeed deliberately underpriced.
“I requested him (Kandjoze) to provide clarity (on Namdia),” ACC director general Paulus Noa was quoted as saying by The Namibian newspaper.
“The minister gave me all the answers I wanted. I am satisfied with the answer.”
Although Noa said he was convinced that nothing fishy took place, the daily cited people “with links” to ACC as saying that the investigation into the new diamond company was still ongoing.

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

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