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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

Botswana dismisses WB calls to open up on mega diamond mining deals

19 may 2017
Botswana has defended its silence on “mega” diamond mining deals saying that “no country signs transparent agreements”.
Reuters recently quoted World Bank Group consultant Nils Handler as saying that government’s decision to keep the negotiation process around contracts for diamond mining and large integrated projects confidential was a cause for concern.
He said a more open process, including published contracts, would assist Botswana in becoming a more transparent and accountable jurisdiction.
However, Botswana’s minerals and water affairs minister Sadique Kebonang dismissed World Bank’s concerns saying that commercial agreements were confidential by nature because of the sensitive of information they carry.
“We have various representatives from the Ministry, parastatal and private sectors Government and private attorneys and mining experts who are part of government’s negotiating team,” he was quoted as saying by Mmegi newspaper.
“The participation of such parties in the negotiation process renders the negotiation process transparent.”
He also said, “even the World Bank, when they give us loans some details of the loan agreement are kept secret”.
Kebonang said details of the mega mining deals would be made public once agreements had been sealed.
Botswana, according to Reuters, earns 89 percent of its foreign exchange income and 30 percent of national revenues from mining, mainly diamonds.
It had numerous large-scale mining, sales and marketing contracts with De Beers, a unit of Anglo American.
De Beers and Botswana jointly own Debswana and DTC Botswana.
Botswana also owns a 15 percent stake in De Beers.

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

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