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SA’s Vutomi project can start production end of 2018 – John Teeling

Botswana Diamonds entered into an option and earn-in agreement with Vutomi Mining and Razorbill Properties, a private diamond exploration and development firm in South Africa last February. It agreed to pay Vutomi a total of £942,000 in cash, of which...

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Proximity doesn’t matter, your pocket does: Tanzanians interested in tanzanite jewellery can testify

Tanzanite, a rare blue/purple gem, was discovered in the Merarani Hills of Manyara Region in northern Tanzania in 1967, a few miles from Arusha and Mount Kilimanjaro. It is used as a gemstone and of late Tanzanians are manufacturing quality jewellery...

19 june 2017

Global demand for polished diamonds will remain steady – Ali Pastorini

Ali Pastorini, senior vice-president of the World Jewelry Hub, answered questions from Rough & Polished concerning the world diamond market, preferences of consumers and role of bank crediting.

13 june 2017

Eternal values in Malaya Bronnaya Street

The assay supervision in Russia is 317 years old. Much younger is the Moscow Gemological Certification Centre (MGCC) established under the Assay Chamber and located in the same ancient respectable mansion at 18, Malaya Bronnaya Street. The MGCC employees’...

05 june 2017

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...

29 may 2017

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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