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You can’t fake that ‘magic’ of the real thing…

Armed with a degree in ‘Jewellery Designing’ from Central Saint Martins and a Diploma in Diamond Grading from the Gemological Institute of America, young Rachel Boston is a London-based jeweller and designer with a mind of her own and adequate talent...

27 june 2016

Lucara eyes future expansion as it boasts of strong cash position

With a net cash position of $144.3 million at the end of the first quarter of 2016, Lucara Diamond, which operates the Karowe Mine in Botswana, says it intends to invest the cash and increase the size of the company either through a merger, acquisitions...

20 june 2016

Ban on rough tanzanite export chocking outside industries

Tanzania said that its ban of rough tanzanite over 5 carats has helped frustrate foreign companies that were relying on supplies from the country. The country’s acting commissioner for minerals Ally Samaje told Rough & Polished on the sidelines of...

14 june 2016

‘Diamond prices have remarkable ability to recover considerably faster after a crisis than other product categories,’ observes Etan Müller, CEO DFI

Etan M. Müller, CEO and Partner- DFI, has more than 25 years of experience in the financial industry. Before setting up DFI Switzerland AG, Etan Müller worked for 12 years in the private banking sector as a senior investment advisor for Ultra High Net...

06 june 2016

World Diamond Congress debates reflected widespread challenges, says WFDB President Ernie Blom

The 37th World Diamond Congress in Dubai carried to completion on May 19, 2016 zoomed in on the most challenging issues facing the global diamond industry with a special focus on transparency, responsibility and sustainability. The World Federation of...

30 may 2016

Botswana should offload its stake in De Beers – diamond analyst

17 november 2011

A well-known diamond industry analyst has urged Botswana not to consider upping its stake in De Beers but rather offload its current 15 percent shareholding or bundle it into a holding company.
Botswana government had up to 12 months to decide whether to use an option of increasing its stake in De Beers from the present 15 percent to 25 percent following the Oppenheimers’ decision to sell its 40 percent stake to Anglo-American.
Mmegi quoted Even-Zohar as saying that he had never seen any reason why Botswana should hold a stake in De Beers.
He alleged that Botswana only got the (eventual) 15 percent stake in De Beers because neither Anglo nor the Oppenheimer family wanted the other to hold a majority.
"For a country with a gradually depleting resource, it needs shareholders that respect the economic, budgetary and societal aspirations of the Botswana government," Even-Zohar said.
"For Botswana to hold 15 percent (or any percentage) in De Beers does not make much sense and spending these funds in other investments, diversifying out of diamonds, seems preferable.”
He said with the Debswana diamond resources, Botswana should concentrate on domestic mining production.
“Why would you need to have a small stake in a company that owns other mines in Canada, South Africa or Namibia?  You will never have a real say on policies and are only unnecessarily holding on to passive diamond investments, rather than putting the money to more attractive uses,” Even-Zohar said.
He urged the Botswana government to set up a holding company, which would give it a chance to participate and own shares in the diamond resources while convalescing its investments.

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

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