Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

20 august 2018

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Zimbabwe engages Botswana to evaluate stockpiled Marange diamonds

12 october 2017
Zimbabwe said it is stockpiling diamonds mined in Marange as their evaluation system had been “compromised” and it will enlist the help of Botswana to evaluate the stones.
Mines minister Walter Chidhakwa could not explain what he meant by “compromised” when he addressed parliament.
Newsday quoted the minister as saying that the Zimbabwe Consolidated Diamond Company (ZCDC) had stockpiled 1,3 million carats over the last few months.
“We are already higher than last year, when most of the court cases were there. We just have not been selling,” Chidhakwa said.
“We have been mining and cleaning. The reason we have not been selling is because our systems for evaluation had been compromised.
“We have had to ask the Tswanas to come and they are coming in next week to assist us with the valuation of those diamonds and after that, we will now have a new system.”
Meanwhile, the Zimbabwean government said that teams of auditors tasked to trace the whereabouts of $13 billion diamond proceeds are finding it difficult to get relevant information to facilitate the investigations.
President Robert Mugabe said last year that the treasury only received $2 billion since 2006 from the $15 billion realised from diamond mining in Marange.
Harare then engaged private audit firms to conduct the investigations after Auditor-General Mildred Chiri’s Office recused itself, citing lack of resources.
“There have been three teams (of auditors) from three companies that we appointed and, as a result, they have been working and the last report that we got was that they were having difficulties with accessing information,” Chidakwa said.
“The contracted companies would not have unfettered access to information that was required because the companies, which they wanted to do forensic audits on were in fact before the courts.”

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