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

SA says most local diamonds not suitable for local beneficiation

07 february 2019

South Africa’s State Diamond Trader said a significant amount of diamonds produced in the country are not suitable for local beneficiation. 
Company new chief executive Stanley Mnguni said in their 2017/2018 report seen by Rough & Polished at a mining conference in Cape Town that the South African production had large quantities.
“[These] cannot be profitably beneficiated in the country due to manufacturing costs and this has an impact on the growth of local diamond beneficiation,” he said.
Mnguni said of the 74 clients of the State Diamond Trader 42 were actively trading in the 2017/2018 period.
The State Diamond Trader was eligible to purchase up to 10% of run of mine local diamond production by carats and value.
“Despite such eligibility, the organisation targeted a minimum of 4% during the year under review as a result of the implications of the run of mine qualification,” he said. 
“The consequence of the run of mine qualification is that it leaves the State Diamond Trader with an empowerment to purchase up to 10% of local production from producers whereas the supply has no demand.”
Meanwhile, company chairperson Mervyn Carstens said the board had adopted a new strategic plan targeting improved performance.
This included an increase in the amount, by carats, of rough diamonds sold on primary allocation by 10 percent annually, an increase on local beneficiation of -3gr gem quality and all sizes of near gem quality and industrial diamonds to 10,000 carats per annum by 2022.

Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished