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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

De Beers to hold sight next week without SA rough diamonds – report

16 june 2017
De Beers is expected to hold its sightholder sales next week at the Diamond Trading Company Botswana (DTCB) in Gaborone without rough diamonds from neighbouring South Africa.
South Africa's minerals minister, Mosebenzi Zwane, had been refusing to grant an exemption to De Beers Consolidated Mines (DBCM) to export diamonds to Botswana for aggregation.
DBCM had since approached the local courts to force the minister change his position.
The Patriot newspaper quoted Botswana Chamber of Mines chief executive, Charles Siwawa, as saying that it was surprising that such a decision with far reaching implications on the relationship between the two neighbouring countries had been made by the individual minister.
"The decision could affect bi-lateral relations between the neighbours. It should not have been unilateral at ministerial level,” he said.
“One would expect that it would be reached after both governments engage at a high level where one would forewarn the other to make necessary preparations going forward."
Siwawa said although blocking supply from South Africa for aggregation in Botswana would not stop operations at DTCB, although it would disrupt the diamond mix in the process.
Diamonds produced by De Beers in South Africa, Botswana, Namibia and Canada were aggregated in Gaborone like they used to be in London.
Once the aggregation process was complete, rough diamonds of higher value were then re-imported back to the producing countries, South Africa included, for cutting and polishing.
About 40 percent of diamonds mined in South Africa by De Beers were allocated to local diamond cutters and polishers.

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

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