India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

Yesterday

“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

11 firms battle to evaluate Namdeb diamonds – report

06 december 2018
namdeb_logo.pngAt least 11 companies are vying for a N$500 million contract to evaluate Namdeb diamonds over the next five years, according to The Namibian.
The current contract was held by Global Diamond Valuators Namibia, which had been evaluating Namdeb’s diamonds since 2007.
The daily cited unnamed sources who alleged that the tender rules had been crafted in way meant to favour one company.
However, Global Diamond Valuators director Andries Eiseb said allegations that the requirements were crafted to suit their company “are void of any truth”.
 “The bid was crafted in such a way that it allowed every eligible Namibian to participate in the tender,” he was quoted as saying.
“We had no prior knowledge of any of the requirements as set out by the procurement board.”
The evaluator was appointed by government through the mines ministry to ensure that a fair market value was put on Namibian diamonds before they are sold and exported.
The Namibian government valuator receives and values the diamonds from the entire production line of Namdeb, a joint venture between Windhoek and De Beers.
The diamonds were then passed on to the Namibia Diamond Trading Company (NDTC) – another joint venture between the Namibian government and De Beers.
NDTC would in turn sell 85 percent of the diamonds to sightholders, while the remaining 15 percent was sent to the state-owned Namib Desert Diamonds (Namdia).

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