Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

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...

21 january 2019

Zim limits diamond companies to four, might waiver local ownership threshold

06 december 2018

The Zimbabwean government has approved a new diamond policy that will limit diamond exploration and mining in the country to only four companies, including the state-owned Zimbabwe Consolidated Diamond Company (ZCDC) and Murowa Diamonds.
Mines minister Winston Chitando said Harare settled for only four players for easy monitoring of the mining and selling of diamonds, according to The Herald.
The other two new players were yet to be revealed, although speculation was rife that China’s Anjin would bounce back.
news_06122018_zcdc.png
Image credit: ZCDC


Acting information minister Mangaliso Ndlovu was quoted by NewsDay as saying that any other entity or person with diamond mining title should approach any one of the four approved companies for joint venture agreements.
“Government, through ZCDC, shall control 46 percent and the Local Company Trust – the 5 percent indigenous partners of any foreign investor who intends to undertake diamond mining activities in Zimbabwe,” he said.
However, Ndlovu said government may waiver the local ownership threshold.
“[This is] subject to submission of satisfactory submissions and due diligence, that all rough diamonds produced from all diamond mining operations shall be submitted to the Diamond Value Management Centre, to be established by the ZCDC for cleaning, sorting and valuation, save for Murowa Diamonds,” he said.
The new diamond policy, said Ndlovu, would also see private players participate in value-addition after cleaning and sorting of diamonds upon obtaining the necessary approvals.
As was the case before, 10 percent of rough diamonds produced in the country would be reserved for local value addition.
Zimbabwe revised the empowerment law to limit majority ownership by locals and State-owned companies to only diamond and platinum mines, and not the entire mining sector as in previous legislation.

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