The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

Yesterday

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 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