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Fura Gems tempting India with rubies from Mozambique and emeralds from Colombia

A qualified Chartered Account, Dev Shetty heads Fura Gems Inc as President and CEO, who has recently developed world’s largest emerald mine in Zambia and world’s largest ruby mine in Mozambique. Dev started his career in India but moved to the UK in...

15 january 2018

The Exchange plays a significant role in the global jewellery industry - Li Zhiwei, General Manager, GDGJE

Li Zhiwei, has been engaged in the Gems and Jewellery development management in China’s government department for the past 30 years. He served as Vice Chairman of Gems and Jewelry Association of China for more than 10 years and has effectively pushed...

09 january 2018

Yoram Dvash Hits The Ground Running As Second Term Begins

Having completed his first term in office as President of the Israel Diamond Exchange (IDE), Yoram Dvash sat down with Rough & Polished to discuss his achievements during his first period in office, and plans for the second term following his...

04 january 2018

Eurasian Diamond Center should bring profit and open new prospects and opportunities for all its players

The ALROSA affiliate in Vladivostok established in 2016 was headed by Alexey Ivanov about half a year ago. He was charged with the responsibility for developing business on the company's Far Eastern platform and attracting new customers to the Eurasian...

25 december 2017

NDTC to supply rough worth about $400 m this year

The Namibia Diamond Trading Company (NDTC), a joint venture between the Namibian government and De Beers, said it expects to supply rough diamonds worth $390 million this year. The diamond trader, which has 11 sightholders, had a fixed supply...

18 december 2017

CIBJO President expressed support for De Beers plan to develop diamond traceability system

11 december 2017
CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation's support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group's CEO, Bruce Cleaver.
When operational, it should enable a diamond's journey through the value chain to be recorded in a secure digital registry by all parties handling the stone, thus creating a transparent method of traceability that is accessible to the entire gemstone and jewellery business.
"This has the potential of being a game changer, with new technologies offering solutions to a challenge that has been notoriously difficult to achieve to date," said Dr. Cavalieri. "While we still are waiting for more information from De Beers about how specifically the system can be applied to diamonds, we are well aware of blockchain's capacity to record for perpetuity chains of transactions, allowing goods to be traced back to their source.
CIBJO strongly advocates for the creation of monitored chains of custody, Dr. Cavalieri said, with the goal being to defend the ethical integrity of products in the gemstone and jewellery trades. At the same time, the confederation has in past expressed concern that more cumbersome due-diligence systems that have been created to meet this objective may disadvantage smaller and medium-sized companies, which lack the resources to put them in place. However, a cloud-based blockchain platform, which is both tamper-proof and accessible to all members of trade, has the potential of eliminating financial barriers of entry, while also being more reliable and effective than a paper-based trail, CIBJO notes.

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels

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