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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

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

Botswana okays De Beers’ move to sell synthetic diamonds

14 june 2018
The government of Botswana said it supports the move by De Beers to enter the synthetic diamond market despite criticism by the opposition parties.

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Image credit: De Beers Group


“It was our decision [to enter the synthetic diamond market],” Mineral resources permanent secretary Cornelius Dekop told Rough & Polished last week on the sidelines of the Botswana Resources Sector Conference.
Botswana had a 15 percent stake in De Beers, while the rest was controlled by Anglo American.
Meanwhile, the Southern Times reports that the country’s opposition parties were against the move.
“...De Beers has entered into the synthetic diamonds market. What does that do? Botswana thinks it has rough diamonds and we are negotiating with De Beers. But De Beers says I don’t need you,” the Umbrella for Democratic Change (UDC) president Duma Boko was quoted as saying.
“I can go and penetrate the synthetic diamond market.”
He said De Beers decided to enter the synthetic diamond market as the world’s superpowers like China and Russia had become big consumers of synthetic diamonds.
 “There is a challenge in the diamond market; the market is shifting from the original diamonds and because De Beers is involved in this they know about these trends. It is going to be difficult to market diamonds,” Boko said.
Independent diamond market analyst Paul Zimnisky told Rough & Polished last month that De Beers’ decision to launch Lightbox Jewelry was a strategic move out of necessity on behalf of the whole natural diamond industry.
“I don’t see this as a move by De Beers to simply take a piece of the lab-created diamond market pie, but rather take control of the lab-created industry and steer it in a way that protects their natural diamond business,” he said.

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

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