Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

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...

18 october 2021

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

Namibia ponders over tax break on diamond to save jobs – report

09 december 2019

The Namibian government is contemplating waiving the payment of royalties by De Beers’ Namdeb to extend the life span of its operations and save jobs.
Minister of Mines and Energy Tom Alweendo was quoted by Xinhua news agency as saying that discussions are at an “advanced state” with his finance counterpart Calle Schlettwein to waive the payment of royalties by the country’s largest diamond miner.
Namdeb is a 50/50 joint venture between the Namibian government and De Beers.
"The idea has not been to take of paying royalties completely but to suspend for some time to use that investment for the company to expand their onshore mining," Alweendo said.
"The idea is to save as many jobs as possible and in the process put ourselves in a position where we can get more royalties in future with prolonged operations instead of thinking short term."
Namdeb currently pays a 55% corporate tax on its profit and 10% royalty on its sales.
Diamond mining generates 20% of Namibia’s export earnings making it the largest taxpayer in the country.
Land-based diamond operations are projected to end in 2023 and will be no longer economical to continue under the current tax regime.
Its output decreased by 7% to 400 000 carats in the third quarter as the Elizabeth Bay land operations were placed on care and maintenance late last year.
The Elizabeth Bay Mine was recently sold to a local consortium.

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