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In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

Jeweler-Designer Arnaud Flambeau started his career in the jewelry business in 1993 at European Gold Company CLAL as Key Account Manager for the Jewelry Division, where he was in charge of international brands like Cartier or VCA and their subcontractors...

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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

De Beers closes Dubai auction-sales office

19 june 2017
De Beers is set to shut down its auction-sales office in Dubai on July 31 due to weak demand from local companies.
The company, which opened the Dubai office in 2011, would still have a presence in the emirate through representatives of global sightholder sales.
Rapaport reports that customers whose business with De Beers was currently managed through Dubai would receive new account managers in Mumbai, India.
The global rough-auctions business shifted focus to Mumbai, India since the establishment of a special notified zone (SNZ) in the Bharat Diamond Bourse two years ago.
“Our ability to meet Indian-based customer needs...through the SNZ over the last year and a half or so has been a great success, and we continue to see significant opportunities in India,” an unnamed De Beers spokesperson was quoted as saying.
“However, this has carried the consequence of steadily diminishing demand from Dubai-based businesses over that period to the point where a business case for a permanent Dubai presence no longer makes sense for us.”
The move by De Beers comes after Alrosa reported last week that it had agreed to work more closely with Dubai to expand the Russian miner’s business in the emirate’s trading center.
Alrosa president Sergey Ivanov said Dubai was one of the world’s leading diamond trading centers.
He said the miner’s rough sales to companies based in the United Arab Emirates totaled $259.5 million last year.
“Alrosa’s affiliate Arcos East DMCC has been successfully operating at the Dubai Diamond Exchange, and we are certainly interested in wider cooperation with our partners from DMCC,” said Ivanov.

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

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