“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

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...

17 june 2019

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

Asian diamond firm sues Zim govt for over $14mln

10 june 2019

Pure Diam DMCC has instructed the High Court Sheriff to seize diamonds owned by the state-owned Zimbabwe Consolidated Diamond Company (ZCDC) to recover more than $14 million, according to a local weekly.
The Asian diamond company’s mining licence was terminated by Harare in 2016, paving way for the formation of the Zimbabwe Consolidated Diamond Company (ZCDC).
Prior to the cancellation of its licence, Pure Diam was operating under Diamond Mining Corporation (DMC) in partnership with ZMDC.
It was said to have extended a loan of $8 million to DMC in 2010, while its shareholding value stood at $10,9 million in the joint venture.
Pure Diam took Harare to the court when its revoked its licence along with those of other players operating in Marange at the time.
The High Court then ruled in favour of Pure Diam on October 11, 2018 instructing the ZCDC to pay the diamond miner "US$14 055 312,00 inclusive of interest accrued till 30 April 2018."
ZCDC was also liable to pay an additional $561 371 to Pure Diam "being further interest at the rate of 5% per annum from 1 May 2018 to date of payment in full".
However, ZCDC failed to comply with the High Court ruling, which saw Pure Diam approaching the Sheriff.
"We therefore instruct that you … attend to the MMCZ building … and attach the judgment's debtors assets being diamonds which are kept in the vault room," lawyers representing Pure Diam, Gill Godlonton and Gerrans said.
The sheriff was yet to attach the diamonds.
Pure Diam had previously sought to attach two properties owned by the ZCDC.

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