New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

Today

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

At IDE, we encourage innovation throughout the bourse and have even opened a technological incubator to host start-ups - Yoram Dvash

A first generation diamantaire, Yoram Dvash founded ‘Y Dvash Diamonds Ltd’ in 1991 in Israel. While the company grew and made progress under his leadership, Dvash joined industry organizations such as the Israel Diamond Manufacturers Association (IsDMA)...

09 january 2019

Cooperation and collaboration are the development trend of today

Pavel Grankin runs the Slava Group of companies and holds the Slava trademark (‘Slava’ means ‘Glory’ in Russian). He has graduated from the Mozhaisky Military Space Academy. He did his military service at the Plesetsk Сosmodrome from 1987 to...

04 january 2019

De Beers speaks on Zim invitation to explore for diamonds again

De Beers’ exploration team landed in Zimbabwe in 1993 and left in 2006, however, they first prospected for diamonds in Marange in the late 1990s. Harare, under the leadership of the then president Robert Mugabe, alleged that De Beers looted diamonds...

24 december 2018

Gem Diamonds recovers 357 ct light brown stone from Letšeng

16 october 2018
Gem Diamonds said it has recovered a 357 carat light brown ‘high quality’ diamond from its 75 percent-owned Letšeng mine in Lesotho.
It said in a brief statement posted on its website Monday that the stone was the 13th diamond of over 100 carats recovered from Letšeng this year.

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                                    Image credit: Gem Diamonds


Gem Diamonds said it has recovered a 138 carat, top white colour Type IIa diamond from the Letšeng mine in Lesotho.
Company chief executive Clifford Elphick said July that 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.
Gem Diamonds registered record rough tender revenues of $169.2 million 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.

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