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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

IIDGR’s proprietary technology gives polished diamonds unique identity

The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each...

07 november 2017

In future, only those who offer innovative designs will survive

A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing...

30 october 2017

Conditions are still very difficult - Ernie Blom

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...

23 october 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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