The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

SA company sues Namib Desert Diamonds

12 february 2019

A South African consulting firm, Bravo Compliance, has sued Namib Desert Diamonds for N$2,1 million ($152, 000) for terminating a contract that was meant to help improve the Namibian state-owned diamond trader improve its governance systems.
The Namibian newspaper reports that Namdia had informed Bravo on 1 June 2018 that it had cancelled the contract because it was awarded based on misinterpretation, and that the tender process should start afresh.
However, Bravo was said to have concluded that the contract was terminated after it raised red flags about how Namdia was selling its diamonds to foreign companies.
The company was previously accused of selling Namibian diamonds below value to dealers in Dubai.
It, however, denied the allegations.
Namdia offered Bravo N$400 000 ($29,000) as a settlement for cancelling the contract and the South African consulting rejected the offer.
It then approached the court seeking to get N$2.1 million.
Namdia advertised the tender in January 2018 seeking a private company to establish a system meant to evaluate and improve its risk management, control, compliance and governance processes.
It awarded the contract to Bravo on 22 March 2018.

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