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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

11 december 2017

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

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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