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...

Today

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

Angola to offload share capital in 195 firms including Endiama

16 august 2019

The Angolan government is planning to offload share capital it wholly or partially holds in 195 different companies under the privatisation programme.
The disposal of its stakes in these entities will take place between 2019 and 2022 through public tenders and initial public offering, according to Jornal de Angola.
Of the targeted companies, 175 firms will be sold via public tende.
State-owned diamond company, Endiama will be one of the firms to be privatized.
Reports suggested last month that a mineral resources agency is being set up to act as regulator and concessionaire. 
Endiama, will no longer take on these roles and part of the diamond company will be floated on the stock exchange. 
The realignment of the mining sector in Angola follows that of the oil sector, which saw Sonangol sell its non-strategic assets and will have a minority share of its capital floated on the stock exchange in 2020. 
Endiama is expecting to earn about $1.5 billion in revenue this year compared with $1.25 billion realised from 8.47 million carats sold in 2018. 
Endiama has a 41% interest in Catoca, which produces and sells about 6.8 million carats of Angolan Catoca’s reserves are estimated at 120 million carats.  
It also has interests two other primary kimberlite projects – Camutue and Luo.  
Endiama has stakes in nine secondary alluvial projects, which included Chitolotolo, Chimbongo, Cambange, Cuango and Lulo. 
Endiama, together with Russia’s Alrosa, are prospecting for diamonds at the Luaxe kimberlite project.  
The deposit was discovered in 2013 and it has reserves of about 350 million carats with a lifespan of 30 years.

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