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29.09.2014
Surat Diamond Bourse Project will be Successful - Dineshbhai Navadiya, President of Surat Diamond Association
dinesh_navadia_preview_2.jpgWorking closely with the Surat Diamond Association (SDA) for almost 18 odd years, Dineshbhai Navadiya, President of SDA has held different positions as an office bearer, as well as an active member of the organization. In the year 2010, he was elected President of SDA and has remained its President ever since. Though the tenure of a SDA President is only for two years, Dineshbhai has been re-elected President every year due to his diligence and dedication towards the Indian diamond industry. Speaking to Rough&Polished, Dineshbhai explains in detail the activities of SDA and its achievements, worker exodus, defaults in the market, etc., and the current challenges faced by the cutting and polishing sector.

22.09.2014
The future of Zim diamond mining hinges on political developments
farai_maguwu_preview.jpgOne of Zimbabwe’s most vocal critics of the state of diamond mining in Marange, Farai Maguwu, who is also the executive director of the Centre for Natural Resource Governance, said that while he is not armed with a “crystal ball” to foretell the future of diamond mining in Marange, he is of the view that this hinges on political developments in the country. He told Rough &Polished’s Mathew Nyaungwa in an exclusive interview that it was a fact that alluvial diamond deposits had depleted on claims given to the current miners digging for stones in partnership with the Zimbabwe Mining Development Corporation (ZMDC), but there were some claims yet to be touched.

15.09.2014
More people are now opting for diamonds rather than plain gold jewellery, because they offer a greater investment opportunity and are trendier
rajiv_popley_preview.jpgRajiv Popley, Director of Popley Group, is well-known in the jewellery and watch sector in Mumbai. In the year 2006, Rajiv launched the first Indian boutiques for Tag Heuer and Omega. His passion for watches and luxury led him to build trade relations with Switzerland by fostering the Indo-Swiss society. Rajiv was also one of the first few to launch platinum jewellery India in association with Platinum Guild International. He has been promoting this rare metal for over a decade. In an interview with Rough&Polished, Rajiv sees the Indian jewellery market becoming more demand-driven with the younger generation playing a major part in the future.





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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