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

De Beers’ Namdeb offloads Elizabeth Bay Mine to local consortium

13 september 2019

namdeb_logo.pngNamdeb, a joint venture between the government of Namibia and De Beers, has sold its Elizabeth Bay Mine and its associated marine assets as a going concern to Lewcor Group, a 100% Namibian-owned consortium.
The transaction has a value of N$120 million (8.23 million) to Namdeb, with potential upside to N$180 million.
Namdeb said this value could increase significantly in the longer term, as it will share in the revenue earned in the sale of diamonds recovered from certain marine mining areas associated with the Elizabeth Bay Mine, and which Lewcor has indicated it will bring into production in the near-term.
The diamond company said it has explored a variety of options to extend the life of its Elizabeth Bay Mine beyond 2019, but ceased operations in September 2018, as it could no longer economically run the operation.
“Following the review, Namdeb concluded that the best way to secure a future for the mine was to find an operator suited to operate the mine in a sustainable way, ensuring continuation of employment and economic activities in Namibia,” it said.
Namdeb said the decision to sell to Lewcor Group was founded on the basis that it has sound technical and financial capability as well as the strong corporate social responsibility credentials, including a demonstrated commitment to Namibia.
“Although the decision to sell the mine has not been easy, it was the right thing to do for its future, its employees and the Lüderitz community at large,”said Namdeb chief executive Riaan Burger.
The transaction is subject to customary suspensive conditions.

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