Innovation and automation can conquer any challenges

Rahul Gaywala, the CEO of STPL has been with the Sahajanand Group since 1993 and in his tenure with STPL, he has proved to be a hard-core innovator and technocrat intent on helping to transform the diamond trade from a labour-intensive industry to an...


Memorial Foundation of Carl Fabergé continues to fulfill its tasks

Valentin Skurlov, Ph. D., who is an Honorary Academician of the Russian Academy of Arts, professor, scientific secretary of the Fabergé Memorial Foundation, consulting researcher studying the Fabergé heritage at the Russian department of the Christie's...

30 march 2020

Gaetano Cavalieri: We need to protect the long-term health of our industry

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

Gem rakes in $7.8mln from Letseng small diamond tender

19 march 2020

Gem Diamonds has raked in $7.8 million from the Letseng small diamond tender, which closed in Antwerp on Wednesday. 
However, the tender was 18% below the like for like prices reached at the last small diamond tender held in November 2019 before the Covid19 coronavirus economic crisis. 

Image credit: Gem Diamonds

"The results of the Letseng small diamond tender are resilient given the difficult circumstances under which the tender was held caused by the ongoing Covid19 situation,” said company chief executive Clifford Elphick.
“We look forward to proceeding with the flexible sales processes in respect of the Letseng large diamond parcel which contains many high quality diamonds."
Meanwhile, Gem Diamonds said its Letseng large diamond tender, which commenced on 16 March and was due to have closed next week on 25 March, has been cancelled due to the Covid19 coronavirus.
Travel and other restrictions imposed by the Belgian government and the governments of the company's clients to prevent the outbreak of has made it impossible for the auction to go ahead.
Gem said a flexible direct sale process has been put in place for large and high quality diamonds.
This sales process, it said, will include direct sales and also partnership arrangements.
“Any diamonds which are not sold under the flexible sales process will be held over for sale at a later date,” said the company.

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