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 to proceed with March diamond sales as Botswana issues travel ban – report

18 march 2020

De Beers is planning to proceed with its diamond sales scheduled for end of the month although sightholders won’t be allowed to inspect goods in person, according to a news report. 
Botswana, where De Beers conducts its 10 sales each year, introduced a travel ban last Monday on 18 high-risk countries to protect itself from the COVID-19 coronavirus. 
The countries include Belgium, India and China. 

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     Image credit: De Beers


“Our intention remains to hold the sight, in line with the desire for it go ahead expressed by customers, but we are developing a suite of contingency plans in the event that it is not possible to hold the sight in the usual manner,” De Beers was quoted by Bloomberg as saying in a statement.
The diamond company was reportedly mulling options such as a “blind” sight, where buyers don’t inspect the goods they are purchasing in person.
Another option was for the buyers to send local staff to the sale.
De Beers and the Botswana government were expected to convene an emergency meeting next week, according to the local media.
De Beers raked in $355 million from its second rough diamond sale compared with $496 million, a year earlier and $551 million, the previous month. 
Group chief executive Bruce Cleaver said early this month that they recognised the impact of COVID-19 Coronavirus on customers focused on supplying the Chinese market. 
The group had to put in place additional targeted flexibility to enable customers to defer allocations of the relevant rough diamonds. 
The diamond industry experienced 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%.

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