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

Zim state-owned firms tussle over control of diamond sales

08 november 2018
State-owned Zimbabwe Consolidation Diamond Corporation (ZCDC) and the Minerals Marketing Corporation of Zimbabwe (MMCZ) are reportedly battling for the control of proceeds from the country’s diamond industry.
ZCDC was currently mining diamonds in Marange while MMCZ was an exclusive agent for marketing and selling of all the minerals produced in Zimbabwe except silver and gold.
Business Times cited unnamed sources as saying that two entities were throwing accusations and counter-accusations of meddling into the marketing of the diamonds.
They also alleged underhand dealings involving senior ZCDC officials and illegal diamond dealers identified as a Lebanese national.
“One of the senior executives at ZCDC (name withheld) met a Lebanese national who approached ZCDC and submitted his proposal to wash diamonds and that Lebanese guy has been involved in illegal buying of diamonds in the country for some time now,” said the source.
“The deal was struck and for the scandal to come to light, the same senior executive called MMCZ insulting officials after his instructions for the Lebanese to get all the diamonds he wanted at MMCZ and ZCDC sort house were frustrated.”
Meanwhile, the newspaper claimed that more than 60 houses in Mutare had been converted into illegal diamond trading centres by a syndicate of foreigners who sourcing the precious stone from illegal artisanal miners.
The diamond trading syndicates are said to have devised sophisticated methods and strategies to evade law enforcement agencies.

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