“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

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...

22 april 2019

Weak diamond demand to affect Botswana mineral revenues in 2019 – report

11 march 2019

Botswana, a major diamond producer, has projected its mineral revenues to drop 4% to 13.6-billion pula ($1.26-billion) in the 2019/20 fiscal year as a result of a decline in royalties and dividends, according to a news report.
Reuters quoted mineral resources minister Eric Molale as saying in a ministry budget document presented to parliament last week that global diamond demand was still weak.
"Trading and prices of diamonds are expected to remain subdued during the first quarter of 2019 due to significant overstocking of small polished diamonds," he said.
Molale said retail jewellery sales dropped during the last quarter of 2018.
Polished prices also continued on a downward spiral in 2019, although at a slower rate, he said.
Debswana, a joint venture between De Beers and Botswana, which was the largest contributor to Gaborone’s revenues, produced 24.1-million carats of diamonds in 2018, a 6% jump from the previous year.

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