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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...

Today

Tanzania to cautiously extend ban on export of rough gemstones from tanzanite

Tanzania, which imposed a ban on the export of rough tanzanite more than 1 gram to encourage local beneficiation, said it will cautiously extend the moratorium to other precious stones in the country once it has the capacity to cut and polish all gemstones...

22 may 2017

De Beers sees sales volumes returning to “more normal” levels

De Beers registered a higher than usual volume of sales in the first quarter following a “strong” rebound in demand levels for lower value stones during the first sales cycle of 2017. The unexpected introduction of demonetisation in India late last year...

15 may 2017

If not gemologists, who else will maintain the image of diamonds in consumers’ eyes?

The Moscow State University’s Gemological Centre created in 1995 trains the specialists in rough and polished diamonds, colour gems, jewellery, characterization, expert evaluation, grading and marketing. The MSU’s lecturers and researchers, scientists...

10 may 2017

Manufacturing should be in line with market demand

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa; Chairman...

02 may 2017

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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