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

“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

Angola to hold first rough diamond tender in Israel

18 march 2019

Angola’s national diamond-trading company, Sodiam, is set to hold its first rough tender in Ramat Gan, Israel, according to the Israel Diamond Exchange (IDE).
Sodiam chairperson Eugenio Bravo da Rosa told a delegation made up of officials from Israel’s government and diamond industry that he would visit IDE “within the next several weeks” where they were expected to conclude the deal.
“We are very pleased that Angola is about to join the ranks of the major international diamond producers holding rough tenders in Israel,” said IDE president Yoram Dvash.  
Angola recently introduced a new diamond trading policy, which among other things allowed producers to sell up to 60 percent of their output to companies of their choice, as well as to their own trading divisions, breaking Sodiam’s power to select buyers.
The first tender organised by Sodiam in Luanda last January under the diamond trading policy raked in $16.7 million.
Seven large diamonds, weighing 498 carats, from Lucapa’s 40 percent-owned Lulo alluvial mine, were sold at an average price of $33,530 per carat. 
Israel imported about $3 billion worth of rough diamonds in 2018.
IDE established a state of the art International Tender Center in 2017, which has hosted dozens of tenders by leading mining and rough diamond trading companies every year. 

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