“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...

Yesterday

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

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

Lucara rakes in $661k from inaugural digital diamond sale

09 january 2019

lucara_news.pngLucara Diamond said it generated revenue of $660,865 from its inaugural diamond sale through Clara Diamond Solutions, its wholly-owned digital sales platform.
The sale achieved +8% over its market price and +15% over the company's reserve price for the goods.  
A total of seven manufacturers participated in the sale, five of whom matched and received their orders.  
“Though we are delighted with the prices achieved for the rough diamonds sold in this first sale, Clara's longer-term value will be realised through its scalability, increasing the volume of rough diamonds transacted by adding production from other global diamond producers,” said Lucara chief executive Eira Thomas.
“Onboarding of additional manufacturers is continuing and Lucara is in active discussion with a number of leading diamond producers who are also interested in trialing the platform in 2019.”  
The company said the next sale was scheduled to take place later this month and diamonds would be added onto the platform gradually in the coming weeks.  
Lucara would also progress into continuous sales of appropriate, qualifying goods through Clara once supply and demand are optimised.

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