“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

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

Gem Diamonds registers record tender revenues in H1

03 august 2018
news_21062018_gem.pngGem Diamonds, which has a 70 percent stake in the Letšeng mine, in Lesotho, has registered record rough tender revenues of $169.2mln from diamonds mined in the first half of its financial year, a 43 percent jump on the second half of 2017.
The average price per carat of diamonds sold during the period leaped 33 percent to $2,742 from $2,061, it said.
It recovered 10 diamonds greater than 100 carats over the period.
Company chief executive Clifford Elphick said the improved recoveries combined with the discovery and subsequent sale of the 910 carat Lesotho Legend for $40 million last March had generated a strong financial performance for the first half.
Meanwhile, Gem Diamonds said it had commenced a formal sale process for its Ghaghoo mine, in Botswana with initial non-binding offers having been received.

Mathew Nyaungwa, Rough&Polished