“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

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...

19 august 2019

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

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