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...

26 october 2020

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

Diamond Fields to resume mining off Namibian coast next year

22 november 2017
Diamond Fields International (DFI) said it is set to resume mining off the coast of Namibia next year.
It said that the International Mining and Dredging Holdings (IMDH) had agreed to an initial mining programme on its ML 111 licence and would extend over a sea floor area of approximately 55 hectares.
"We are extremely excited at the prospect of being back in production in the very near future. Our product is recognized throughout the world for its exceptional quality, being 98% gem and we look forward to bringing this niche product back to the market again,” said DFI chief executive Sybrand Van De Spuy.
“This programme will provide our company with the opportunity to generate significant cash-flow in short order."
The mining programme would be executed using the state of the art Ya Toivo mining vessel which was equipped with a four point-mooring-system integrated anchor-assist and a dynamic positioning (DP2) system which ensures vessel stability during turbulent sea conditions.
The vessel was further equipped with a remotely operated subsea tractor, capable of highly efficient and selective mining on the sea floor.
DFI also said it had further concluded discussions with IMDH regarding its share of the 2016 bulk sampling programme.
The results from the bulk sampling programme were “extremely encouraging”, with an unexpected high frequency of large, high value stones, it said.
DFI also said that the diamonds recovered from the ML 111 licence were typically of the highest gem quality, but recent bulk sampling results had exceeded their expectations.

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