Login

Botswana Diamonds’ Campbell on Zim jaunt: We are interested in Kaapvaal Craton

Botswana Diamonds and Vast Resources, recently signed a memorandum of understanding to prospect for diamonds in Zimbabwe. The two companies will exchange information derived from past exploration on areas prospective for diamonds in the southern African...

09 july 2018

“Every Forevermark diamond has a unique inscription number which is an assurance that the diamond is beautiful, rare and responsibly sourced,” says Sachin Jain

Sachin Jain, President-Forevermark, joined the company - a wholly owned subsidiary of the De Beers Group - as the Head of Retail in 2010. He was swiftly promoted to the Managing Director in 2011… to later become the President in year 2013. Sachin started...

02 july 2018

In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

Jeweler-Designer Arnaud Flambeau started his career in the jewelry business in 1993 at European Gold Company CLAL as Key Account Manager for the Jewelry Division, where he was in charge of international brands like Cartier or VCA and their subcontractors...

25 june 2018

Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 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

Comments

Only registered users can add comments (Register, Login)