Consumers attracted to diamond jewelry more than ever

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

Yesterday

WDC actively supports initiatives from mine to retail; and also strives for support for the artisanal and small-scale miners - Edward Asscher, President, World Diamond Council

A member of one of the diamond industry and Amsterdam’s most well-known families, Edward Asscher was elected President of the World Diamond Council in June 2020 for a two-year term. Asscher is serving a second time as WDC President, having led the organization...

14 september 2020

Diamonds are one of the few things that have held human fascination in every nook and cranny of the world across time

Dr Usha R. Balakrishnan, a preeminent historian of Indian jewellery based in Mumbai, is Chief Curator of the World Diamond Museum. Being the author and co-author of several volumes of Diamonds Across Time, a new book and an important venture launched...

11 september 2020

Botswana Diamonds to bulk sample KX36 kimberlite, sees commercial potential

Botswana Diamonds recently acquired Petra Diamonds’ exploration assets in Botswana for $300000. The assets that were owned by Petra through its wholly-owned Sekaka Diamonds Exploration, include the KX36 project, a 3.5 hectare kimberlite that was a new...

07 september 2020

Indian diamond industry looks for recovery options

Webinars being the order of the day due to COVID-19 crisis, the Gem & Jewellery Export Promotion Council (GJEPC) of India organized a virtual meeting under its UNCUT 2020 Webinar series on 17 August 2020, inviting all stakeholders to discuss...

31 august 2020

Anglo calls for action against illicit mining activities as it lauds De Beers’ Tracr

06 february 2020

Players in the mining industry cannot fold their arms and allow illicit activities to continue, Anglo American chief executive Mark Cutifani has said.
“We must act,” he told delegates at the Investment in African Mining Indaba, in Cape Town. “This is how we will earn the trust that we need to continue extracting the minerals and metals that enable human progress.” 

afandi_ahmad_syaikhu
Image credit: afandi_ahmad_syaikhu (Pixabay)


Cutifani said its 85%-owned De Beers decided to develop Tracr, a blockchain-enabled technology platform that helps create trust among the various industry actors in the diamond sector.
This, he said, came to being in a bid to ensure diamond’s authenticity and responsible sourcing through to the point of sale in jewellery stores.
“While our diamond business, De Beers, provides roughly one-third of the global supply of diamonds by value, we were clear when we developed Tracr that this wouldn’t be a De Beers-only platform,” he said.
“Instead, we worked on building a platform that the entire diamond industry could use in the quest to be more open and transparent.”
Cutifani said since its launch, Tracr had attracted a broader base of diamond producers, midstream businesses, and retailers.
This collaboration, he said, had helped build significant momentum, and they believed that Tracr’s data-backed authentication capabilities hold tremendous promise.
“Assuring our stakeholders and wider society that the diamonds we produce are natural, ethically sourced and legitimate, carries significant value for them and the entire diamond   value chain,” said Cutifani.
“The   participation   of   several   diamond   producers, midstream businesses and retailers means that we, as a collective, can now build greater trust and efficiency, thereby improving cost and revenue performance for the trading of diamonds.”
Meanwhile, the Anglo American boss said their efforts to build trust along the diamond value chain had also been extended to artisanal and small-scale miners. 
“These are important players who make an important contribution to the global diamond industry through their artisanal mining on parts of the African continent,” he said.
“Many parts of this sector are informal and unregulated.  Its participants often lack access to established international markets and formal sales channels.”
DeBeers was currently piloting a ground-breaking programme in Sierra Leone called GemFair™.
The programme seeks to create a secure and transparent route to market for ethically-sourced artisanal and small-scale diamonds.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished from Cape Town, South Africa