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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

De Beers says it will auction polished diamonds manufactured from its own rough

19 may 2017

De Beers’ Auction Sales said it will pilot the sale of its own polished diamonds using auctions for the first time. It said in a statement that the sale would comprise a wide range of polished stones manufactured directly from its rough diamonds.
De Beers occasionally used a third party contractor to cut and polish some of its rough diamonds to better understand to what extent they are delivering customers’ polished outcome requirements.
“We have a limited amount of a wide range of polished diamonds, so it makes commercial sense for us to trial this auction on our existing platform,” said De Beers’ Auction Sales Executive Vice President Neil Ventura.
“We are interested in testing the level of demand from polished buyers for diamonds that have a clear and attractive source of origin, and that offer the assurance of product integrity that dual certification provides.
He said a successful auction would also generate an additional polished price reference in US dollars per carat.
“In addition, this will complement our existing rough auctions and enable buyers to fill supply and inventory gaps if they were unable to secure supply at our spot and forward auctions for rough diamonds,” said Ventura.
Meanwhile, the group said polished diamonds were available following contract manufacturing of De Beers Auction Sales rough diamond products to assess what range of polished diamonds they would produce.
The polished diamonds would also be accompanied by both International Institute of Diamond Grading & Research (IIDGR) and Gemological Institute of America (GIA) grading reports.

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

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