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Lucapa to become a niche diamond company, says Wetherall

Lucapa Diamond believes that it will become the only company in the world with multiple diamond mining operations whose average diamond value is in excess of $1,000 per carat, once the Mothae mine is commissioned this year. Company chief executive and...

19 february 2018

Zimnisky: Diamonds lack fungibility to be a major investment product

Physical diamonds will never be a viable widespread investment product simply because they inherently lack fungibility, meaning they are all unique, according to Paul Zimnisky, an independent diamond industry analyst and consultant, who is based in New...

12 february 2018

Julien-Vincent Brunie: "Being surrounded by beauty and art is a privilege!"

This last December, shortly before Christmas, the Auction House of Christie's arranged a private display of jewelry in Moscow. The correspondent of Rough & Polished, who had an opportunity to visit this event, was able to admire a luxurious collection...

05 february 2018

Ali Pastorini: We would like meeting Mujeres Brillantes 2018 to be held in Russia

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 500 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

29 january 2018

Diamond Exchanges promote healthy development of the diamond industry, besides safe and basic infrastructures for diamond trade

Prior to joining the Guangzhou Diamond Exchange, Liang Weizhang served as a civil servant of Guangdong Entry-Exit Inspection & Quarantine Bureau as the director of the Kimberley Process Office. He participated in the KP Review missions to South Africa...

22 january 2018

Conflict diamonds: Global Witness calls for due diligence when trading with CAR

14 july 2017
Global Witness said diamond companies should exercise caution when trading with the Central African Republic (CAR) to prevent conflict diamonds from entering the international market.
The non-governmental organization released a report last month, which alleged that dealers were smuggling rough diamonds out of CAR using social media.
However, the country’s mining minister, Leopold Mboli Fatran, refuted Global Witness’ claims of illegal diamond trading in the country.
Rapaport reports that Global Witness had fired back.
“A responsible diamond trade can only be built with the commitment and resources of the entire sector,” it was quoted as saying.
“This includes international companies profiting from the trade in diamonds. These companies have a clear responsibility and wield genuine influence, but their due diligence efforts continue to fall well short of international standards.”
Global Witness also said that the CAR government had expressed “willingness to engage” on the issues raised in their report.
CAR was the world’s tenth-biggest diamond producer by value in 2012, according to Bloomberg citing the US Geological Survey.
The internecine conflict broke out in CAR in 2013 when Muslim Seleka rebels seized power from President Francois Bozize, causing retaliations by "anti-balaka" Christian militias.
Diamonds were used to fund operations of the warring groups, a move that forced the Kimberley Process to ban the export of diamonds from the landlocked country.
However, the diamond watchdog partially lifted the ban last year.

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

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