De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Today

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

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...

25 march 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