India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

Yesterday

“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Sierra Leone produces 144 ct diamond worth $600k – report

06 july 2018
An unnamed company in Sierra Leone has produced and exported a 144.12 carat rough diamond worth more than $600,000, according to Rapaport citing local authorities.
No details were provided on where or how the diamond was recovered.
The National Minerals Agency (NMA) was quoted as saying that an independent appraiser put the price of the stone at $659,925, which it then used to calculate taxes and 15 percent royalty.
The exporter paid $98,989 as royalty.
NMA said that the stone would not be placed under the hammer as the miner chose to export it instead.
“There is no policy or law that states that diamonds must be sold by public auction,” the NMA was quoted as saying.
“The issue of auction will be dealt with during the upcoming review of the Mines and Minerals Act 2009 and other associated policies.”

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