Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

Yesterday

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

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

‘Ekapa struggles to stay afloat’

28 august 2019

Ekapa_logo.pngEkapa Mining, the only major diamond mining firm operating in South Africa’s Kimberley region, has imposed a three-month, 12.5% salary cut across the board, in a bid to stay afloat in the face of slumping diamond prices and renewed problems with illegal miners on its property, according to local media reports.
The operation was formerly run as a joint venture with Petra Diamonds, which sold its 75.9% controlling stake in July last year to partner Ekapa for R300 million.
Kimberley Ekapa Mining (KEM) said in a statement seen by MiningMx that the current crunch in the global diamond market, which has hit small diamond prices particularly hard equates to an approximately 20% year-on-year price decrease in dollar terms for the company’s mining operations.
KEM chief executive Jahn Hohne said they had initially proposed a 25% wage reduction that was strongly rejected by the National Union of Mineworkers.
The union also rejected the 12.5% cut now imposed despite management’s commitment that the reductions will be repaid.
Meanwhile, Hohne said KEM is spending R3 million a month on security measures to keep illegal miners off mine property.
“They are using force; trespassing; conducting illegal mining; sabotaging mine infrastructure and allegedly being supported by illegal diamond traders,” said KEM.

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