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

De Beers okays construction of new diamond recovery vessel for Namibia

16 may 2019

Debmarine Namibia, a 50:50 joint venture between De Beers and the Namibian government has approved the construction of a new custom-built diamond recovery vessel, according to Anglo American.
The new vessel, which was expected to cost $468 million ($234 million attributable to Anglo American), would become the seventh in the Debmarine Namibia fleet. 

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Image credit: Debmarine Namibia


It was also expected to begin production in 2022 with the capacity to add 500,000 carats of annual production, a 35% increase above Debmarine Namibia’s current levels.
“The addition of this custom-built vessel for the Debmarine Namibia joint venture will bring numerous benefits – in terms of De Beers’ production profile by value and volume, the technologies that can be deployed from the outset to deliver greater efficiency and productivity, and sustained economic benefits for Namibia,” said Anglo chief executive Mark Cutifani.
“This highly attractive investment offers a three-year payback, a more than 25% IRR and an EBITDA margin of more than 60% – typical of the high quality of our brownfield growth options.”
De Beers chief executive said some of the highest quality diamonds in the world were found at sea off the Namibian coast. 
“With this investment we will be able to optimise new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe,” he said.

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