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

Leviev gets back stake in Zambian emerald mine

21 january 2019

news_21012019_leviev.jpgIsraeli diamond billionaire Lev Leviev has regained ownership of a 50 percent stake in an emerald mine in Zambia at the heart of a $50-million dispute, according to a media report.
Bloomberg reports Zambia’s Patent and Companies Registration Agency (Pacra) had reversed a decision to strip Leviev of his equity in Gemcanton Investments through his local unit.
Leviev’s lawyer, Dickson Jere, was said to have threatened to institute legal and criminal proceedings following changes to Gemcanton’s shareholding on December 31.
Pacra admitted in a letter seen by the news agency that it had “inadvertently accepted” the changes made last month and was now aware that disputing shareholders had an ongoing court case.
Wolle, a company owned by Abdoulaye Ndiaye, who built the Gemcanton mine before selling 50% to Leviev, had been in legal battles with Leviev’s company, which claims Ndiaye owes it more than $50-million, according to Bloomberg.

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