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

Details emerge on Angola’s proposed rough diamonds trading policy

05 july 2018
The Angolan government reportedly approved a new policy of rough diamonds trading last week, which will guarantee an effective system, but details were sketchy.
However, Reuters has this week claimed to have seen a draft presidential decree that revealed a plan to set the price of rough diamonds against an international benchmark and give producers greater influence to pick their own buyers.
Diamond producers like Catoca would be allowed to sell up to 60 percent of their output to companies of their choice, as well as to their own trading divisions, breaking Sodiam’s power to select buyers.
Reuters also claimed that stones would also be priced according to a benchmark based on a sample of typical nationally-produced stones, along with an evaluation using a price list “in line with the international market”.
The southern African country was also set to introduce sales sessions for pre-approved diamond buyers, while rare stones would be individually placed under the hammer.
The ministry of natural resources and oil would also now have the power to appoint independent evaluators.
These would arbitrate in any disputes and set more open criteria by which Sodiam selects buyers, giving priority to polishers and jewellery makers over middlemen.

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