An alliance between a diamond producer and a diamond manufacturer in Russia is simply inevitable and necessary

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15 october 2018

High technologies make it possible to create a product that can be obtained in natural stones only for very big money

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08 october 2018

The once unorganised domestic jewellery sector in India is now growing

A veteran businessman, former Chairman of Gem & Jewellery Council (GJC), Bullion Expert, a third-generation jeweller born with a silver spoon (or was it gold?) in his mouth, a perpetual optimist … yes, the list could go on. As the first...

01 october 2018

India is poised to become a major fine jewellery market in the near future - Pramod Agrawal, Chairman GJEPC

Pramod Kumar Agrawal, the current Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a successful entrepreneur in his own right. Despite belonging to a jewellery business family, with his father dealing in gemstones...

24 september 2018

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

Angola to gazette technical regulations for new diamond marketing policy

11 october 2018
Angola is set to gazette technical regulations for the new diamond marketing policy at the end of October or early November, according to a mining official with interests in the southern African country.
Lucapa Diamond managing director Stephen Wetherall was quoted by Antwerp’s Diamond Loupe as saying in a wide-ranging interview that producers would only determine which new channels the majority of their product would be sold through, and to which buyers once the regulations are gazetted.
“This ‘majority’ has been said to be up to 60 percent of production and the ability to use multiple competitive channels for price discovery will result in producers achieving international market prices,” he said.
Wetherall said the main reason Angola was implementing the policy was to drive inward investment.
 “The key objective of the new policy is indeed to implement major reform, to improve the attractiveness and competitiveness of the national diamond industry and grow outside investment into Angola, so mining contributes more to the Angolan fiscus,” he said.
“More specifically, the policy intends to achieve this growth by establishing an effective system to ensure greater transparency and predictability in the rough buying and selling process, in order to maximise value and price stability.”
Angolan leader João Lourenço, who replaced long-time ruler Jose Eduardo dos Santos as President, said last June that he had ordered the state-run diamond companies Endiama and Sodiam to revise their policies to the benefit of the country and private companies.
He said during his Antwerp trip that Angola had been absent from the diamond bourse and that should change.
Lourenço also said Angola had not been able to benefit properly from its diamond resources as a result of policies that stifled growth, but wants that to change as well.
Angola produced 9 million carats last year worth $1.1 billion.

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