“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing...

18 september 2017

Diamond exploration junior obtained conclusive proof of diamond-bearing kimberlites in Russia’s North

OOO Proex Service, which is searching for diamonds in the Arkhangelsk Region of Russia, discovered seven kimberlite pipes in the Kozolsky license area having spent 15 months for the find. One of the pipes is very similar to the highly diamondiferous...

11 september 2017

People do not just make fun in the social media, they make purchases there

Oksana Senatorova has been famous in the jewellery world for a long time as a publisher of the ‘Navigator in the Jewellery Trade’ journal, organizer of the international contest ‘The Best Jewellery Store of the Year’, curator of professional events and...

04 september 2017

‘There is no illegal tanzanite mining in Tanzania’

Richland Resources, which wholly-owned TanzaniteOne until the Tanzanian government forced it to relinquish half of its stake to the State Mining Corporation (STAMICO), exited the country in 2015 to focus on its operations in Australia. The formalisation...

28 august 2017

David Block: “Intellectual property theft is not just Sarine's problem...whole industry should combat this phenomenon.”

For more than 15 years, David Block served in various senior positions at Sarine Technologies in Israel and India. From 2012 until his appointment as CEO in 2017, Block was Sarine's Deputy CEO and Chief Operating Officer, with responsibility for...

21 august 2017

Tanzania to ‘nationalise’ diamonds seized from Petra – report

13 september 2017
Tanzania is set to “nationalise” diamonds it said are worth $29.5 million belonging to Petra Diamonds after it accused the firm of under-declaring its mineral exports.
Reuters reports that the diamonds were seized at the main airport in Tanzania’s commercial capital Dar es Salaam on August 31 as they were being exported by Williamson Diamonds Ltd to Antwerp, Belgium.
Petra owns a 75 percent stake in Williamson Diamonds, while the remaining shares were held by the government.
“While Williamson Diamonds Ltd declared in its documentation that the value of the diamonds was $14.798 million, a fresh valuation done by the government established that the actual value of the diamonds is $29.5million,” Tanzania’s finance and planning ministry was quoted as saying in a statement.
“Among the legal action to be taken include the nationalisation of all the diamonds seized after it was established that there was cheating involved in declaring the actual value of the minerals.”
However, Petra said Monday that it had conducted all operations related to the Williamson mine in a ”transparent manner and in full compliance with legislations”.
Tanzania said it had ordered a fresh sorting and valuation of the diamonds to ascertain if the actual value was declared and all relevant taxes were paid.
The government also ordered a criminal investigation to be launched against all officials involved in declaring the value of the diamonds and issuing export permits.
Tanzanian president John Magufuli ordered last Thursday a review of Petra Diamonds’ contract.
Tanzania claimed it was likely losing more than $46 million each year from the export of under-cleared diamonds.

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


Only registered users can add comments (Register, Login)