Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 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