Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

Today

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

“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

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