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

De Beers mulls key changes to way it sells diamonds – report

20 january 2020

de_beers_logo.pngGlobal diamond giant, De Beers is believed to be considering significant changes to the way it sells diamonds following a terrible year for the companies that cut, polish and trade the gems.
The Anglo American unit, is reportedly planning to significantly cut the number of its sightholders as well as reconsidering the way that diamonds are allocated among the group, according to Bloomberg citing unnamed sources.
De Beers’ current six-year contract with buyers expires at the end of this year.
It is anticipated that the group will strengthen the remaining businesses by reducing the number of its customers.
Its executives will this week meet the sightholders in Botswana for De Beers’ first sale of the year and annual cocktail party.
It is believed that De Beers will provide an update on possible changes during the gathering.
A De Beers spokesperson said in a statement that they will communicate directly with customers in the coming months about the new contract, which will focus on maximizing the opportunities in the new diamond world.
The diamond industry experiencing an oversupply of polished diamonds last year, which led to sharp price drops than for rough stones.  
De Beers was forced to lower prices across the board by about 5%. 
It also offered flexibility to its diamond buyers as midstream trading conditions were in the process of rebalancing.

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