“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...

18 march 2019

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

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