“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

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