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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...

Today

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

Zimbabwe engages Botswana to evaluate stockpiled Marange diamonds

12 october 2017
Zimbabwe said it is stockpiling diamonds mined in Marange as their evaluation system had been “compromised” and it will enlist the help of Botswana to evaluate the stones.
Mines minister Walter Chidhakwa could not explain what he meant by “compromised” when he addressed parliament.
Newsday quoted the minister as saying that the Zimbabwe Consolidated Diamond Company (ZCDC) had stockpiled 1,3 million carats over the last few months.
“We are already higher than last year, when most of the court cases were there. We just have not been selling,” Chidhakwa said.
“We have been mining and cleaning. The reason we have not been selling is because our systems for evaluation had been compromised.
“We have had to ask the Tswanas to come and they are coming in next week to assist us with the valuation of those diamonds and after that, we will now have a new system.”
Meanwhile, the Zimbabwean government said that teams of auditors tasked to trace the whereabouts of $13 billion diamond proceeds are finding it difficult to get relevant information to facilitate the investigations.
President Robert Mugabe said last year that the treasury only received $2 billion since 2006 from the $15 billion realised from diamond mining in Marange.
Harare then engaged private audit firms to conduct the investigations after Auditor-General Mildred Chiri’s Office recused itself, citing lack of resources.
“There have been three teams (of auditors) from three companies that we appointed and, as a result, they have been working and the last report that we got was that they were having difficulties with accessing information,” Chidakwa said.
“The contracted companies would not have unfettered access to information that was required because the companies, which they wanted to do forensic audits on were in fact before the courts.”

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

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