Chris Del Gatto: “We provide capital to smart companies”

Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found a...

Yesterday

Lunhianga Project: "The forecasts for this year point to the production of about 100 thousand carats of diamonds"

Advanced information, by the coordinator of Endiama’s Lunhinga Project Management Committee, Adérito Gaspar, points to a drop in production due to the pandemic, but with good prospects in view of the potential of the kimberlites of Camatchia, in production...

19 october 2020

Crisis is the way to development

Maria Krasnova belongs to the second generation of the St. Petersburg jewellers. She is a daughter of Pavel Sokolov, the founder of ‘Samotsvety ot Sokolova’ (Gems by Sokolov), a jeweller and expert gemologist famous for his collection of unique...

12 october 2020

Gaetano Cavalieri: Diamond producers no longer insisting that clients purchase what they are offered

Dr. Gaetano Cavalieri has served for the past 19 years as president of CIBJO, the World Jewellery Confederation. Uniting national jewellery and gemstone associations from more than 40 countries, including Russia, and many of the industry’s major corporations...

05 october 2020

Worth of gold and diamonds

Initiatives in Arts and Culture and De Beers recently co-hosted a webinar on the worth of gold and diamonds. The webinar, which was moderated by Mickey Alam Khan, the founder and editor of Luxury Daily, featured Jeffrey Christian, founder and managing...

28 september 2020

Namibia’s diamond production and exports in 2006-2020: from one crisis to another

05 october 2020

Diamond production and exports in Namibia

Namibia is among the largest global diamond production countries and exporters (Table 1).

Table 1

Diamond production and exports in Namibia, 2006-2020.

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Prospects for the development of the diamond business in Namibia

The current stage of the diamond business development in Namibia is characterized by the following factors:

1. Namibia’s offshore rough diamonds are beyond competition as they are brought to the bottom of the Atlantic Ocean in the safest form, and their extraction using mining vessels is not very expensive and the value of one carat is several times higher than that of the diamonds mined from the kimberlite rocks in Africa.

2. The government of Namibia has urge the local cutting companies to ramp up their polished diamond manufacture in order to cut and polish at least 90% of the rough diamonds produced in Namibia.

3. The analysis of the Namibia’s diamond production since 2006 shows that the country overcame the 2009 global crisis without much effort due to the high quality of the rough diamonds produced and the relatively small volume of easily processed sand.

4. The central bank predicts that the Namibia's diamond production will decline by 14.9% in real figures in 2020 due to the expected drop in demand, which is exacerbated by logistical interruptions for auction sales due to the travel restrictions and border closures all over the world.

Yury Danilov, Ph. D., independent expert and analyst