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...

Yesterday

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

Lucara wants $1.5 bln transacted through Clara

07 may 2019

lucara_news.pngLucara Diamond is targeting to get $1.5 billion transacted through its wholly-owned digital sales platform, Clara Diamond Solutions, according to a report.
It launched the platform after a series of trials that saw sales achieving over 8% of its market price, according to a report.
“If we can get to $1.5 billion transacted through the platform, the cash flow we generate from Clara will be as important as the cash flow we generate from the mine," Lucara chief executive Eira Thomas was quoted as saying. 
“We’re taking baby steps right now, but each quarter we’ll report, we expect the volume to increase.”
The annual global diamond trade was valued at $18-billion.
The new platform saves buyers the trouble of traveling to Botswana and it also brings to an end the practice of buying stones by the bucket. 
“For the first time ever, manufacturers buy only what they want, they don’t have to carry all this extra inventory,” said Thomas.
“The large integrated jewelry companies don’t want to be in the business of secondary trading. They’re just trying to source diamonds for their own products.”
Clara uses proprietary analytics, with the latest cloud and blockchain technologies, to sell rough diamonds individually, based on polished characteristics and demand. 

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