GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Namibia’s controversial diamond valuation tender results upheld

14 august 2019

namibia_flag.pngNamibia’s Central Procurement Board (CPB) review panel has dismissed an appeal filed by Prestige Diamond and Global Diamond Valuators Namibia over the awarding of a $21 million diamond valuation tender to Gem Diamonds Namibia.
The Windhoek Observer reports that the panel found no legal merit in the appeal.
“Alternatively, the Review Panel found no evidence that the awarding of the tender is marred by irregularities as alleged by the applicants,” reads the ruling by the panel.
“In the result the Review Panel makes the following order: That the applications for review in terms of Section 59(1) of the Public Procurement Act, No.15 of 2015, lodged by Prestige Diamonds and Global Diamonds Valuators, respectively, and which were in the end consolidated into one action, are hereby dismissed in terms of Section 60(a).”
The contract, which was awarded by CPB, had been mired in controversy with concerns being raised that it was turned into a money-making scheme for a clique of well-placed individuals.  
Gem Diamonds reportedly asked for N$300 million to valuate Namdeb diamonds, while the current tender holder since 2007, Global Diamond Valuators Namibia, asked for N$220 million for the same job.   
Under the existing system, the government valuator receives and values the diamonds from Namdeb, which is jointly owned by the government and De Beers.
The diamonds are then passed to the Namibia Diamond Trading Company (NDTC) – another joint venture between the government and De Beers.
NDTC then supplies 85 percent of the diamonds to special customers called sight holders, while 15 percent is sent to Namib Desert Diamonds (Namdia).

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