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

Namibia diamond mining to grow 11 pct this year before 2019 slowdown

12 july 2018
Bank of Namibia said the country’s diamond mining is expected to maintain a high growth level this year before contracting in 2019 due to depletion of onshore diamond deposits.
The industry was projected to grow by 10.9 percent this year compared with 12 percent slowdown in 2017 and contract by 5.3 percent next year, it said in a report.
“In this regard, the Elizabeth Bay mine near Lüderitz is expected to close down because it has not generated any profits in recent years,” the central bank said.
“DebMarine Namibia is expected to increase output significantly in the medium term, keeping the growth outlook for diamond mining positive from 2021 going forward.”
Reuters reported last January that Namdeb, a joint venture between Namibia’s government and De Beers, was set to retrench about 130 of its 1,700-strong workforce on a voluntary basis.
Namdeb was set to close four mines by 2022.
Elizabeth Bay Mine would be shut down at the end of 2018, while Daberas would be closed at the end of 2019, Sendelingsdrift in 2020 and the main one, Southern Coastal, in 2022.
Namdeb Holdings lifted its production by 12 percent to 500,000 carats in the first quarter of 2018 as a result of accessing consistently higher grades at the land based operations.
It also produced 1,805 million carats in 2017.

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