GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

‘Namdia did not undersell its purchase entitlement’

23 november 2016
Namibia’s state-owned diamond trading company, Namib Desert Diamonds (Namdia) has dismissed reports that it sold the country's diamonds “cheaply” to Dubai.
The Namibian quoted Namdia board chairperson Shakespeare Masiza as saying that they sold two parcels weighing 50 260,53 carats for N$376 million ($26,4 million) this year.
The daily had last week reported that Namdia “deliberately” sold the country's diamonds cheaply to Dubai – five times less than the price they eventually fetched in the Middle East.
“Namdia did not undersell its purchase entitlement. Namdia has not and will not engage in any illicit business,” Masiza was quoted as saying.
“The purpose of Namdia is to independently discover the true market value of Namibian diamonds, and to report to the shareholder what we have discovered in order for government to inform its national resource optimisation strategy.”
Unnamed sources cited by The Namibian claimed that Namdia sold diamonds in Namibia to Dubai-based companies for $500 per a carat.
However, the same diamonds were then re-sold for $2 500 per carat by the Dubai-based companies.
Namdia was not pleased by such allegations saying its transactions were above board.
“Casting aspersions over Namdia's objective with tags like illicit financial flows seek to undermine the genuine pursuit of price discovery, and makes one wonder in whose interest you wish to report such,” Masiza said.
Mines minister Kandjoze also said last Friday that Namdia was not a vehicle for self-enrichment for middlemen or existing buyers through the De Beers sightholders system.

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