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29.06.2015
Over the long term, we can expect to see a supply shortfall and rising prices - Ali Pastorini
ali_pastorini_x.jpgAli Pastorini, Director of Marketing of the World Jewelry Hub (WJH), in an interview to Rough & Polished talked about the goals set before the WJH, described the main trends and challenges currently facing the world jewelry and diamond markets and delineated the role of China and India.

22.06.2015
Legal framework should predominantly be aimed at creating equal conditions for doing business
flun_gumerov_x.jpgFlun Gumerov is the President of Almaz-Holding, a jewelry company based and operating in Russia (it has been working in the Russian market since 1993 and is one of the leading firms in the country). He is also a member of the Kostroma Regional Duma (Parliament) and a member of Business Russia, which is an all-Russia social action organization. Being one of the participants of the Expert Council within the State Duma Committee on Natural Resources, Environmental Management and Ecology he combines this work with his activity as a member of the General Council of the Russian Jewelers Guild. Flun Gumerov was awarded the Honor Badge “150th Anniversary of Mikhail Perkhin” by the Commemorative Foundation of Karl Faberge for his outstanding contribution to the development of Russian jewelry art.

15.06.2015
Fabio D'Amico: We do not allow neither overgrading nor undergrading
fabio_d_amico_x.jpgFabio D'Amico, CEO of Milan-based Gemological Education Certification Institute (GECI) told about the work performed by his Institute and in particular about the services it offers in his interview to Rough&Polished.





Lesotho’s proposed ownership law to affect diamond firms

02.08.2012

Lesotho is set to introduce a new law that will limit foreign mining firms’ ownership in local mines to 49 percent, while the remaining 51 percent will be reserved for natives (government included).
Diamond companies to be affected by this proposed law included Gem Diamonds, which owns 70 percent of the Letseng mine, and Namakwa Diamonds, which owns the majority of the Kao mine.
Gem’s flagship Letseng diamond mine had produced 57,116 carats during the first six months of the year ended June 2012.
It said the mine also achieved an average value of $2‚133 per carat during the first half of the year compared with $3‚052 realised a year earlier.
Namakwa on the other hand realised revenues of about $4.2 million from its third sale of Kao rough diamonds in Antwerp, with achieved prices 3.4 percent higher than initial management estimates.
However, with all the positive news coming from the diamond miners in Lesotho, the country’s new Prime Minister Tom Thabane said the gems were not being mined successfully in a manner that benefits the country, hence the move to review the ownership structure.
"We also have lots of diamonds, but are not doing so well," he said.
Thabane said that the proposed law would not affect the non-mining sector as was the case in Zimbabwe under its controversial indigenisation law.
“The localisation issues mentioned are in the mining sector — other sectors are not affected,” he was quoted by Businessday as saying.
"But it is still a debate. At the moment we do not think we will follow the status quo.”

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

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