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 allows 100% deferrals, buybacks of up to 30%

07 may 2020

De Beers has allowed sightholders to defer 100% of their sight four allocations to later in the year, according to media reports.
The fourth sight was scheduled for 4 to 8 May.
The Covid-19 induced lockdowns and international travel restrictions have resulted in less demand for rough stones. 

Image credit: De Beers

“Most sightholders are going to defer all their goods,” an unnamed De Beers customer in India was quoted as saying by Rapaport.
“No one in the world is allowed to travel right now, so only the local Botswana factories may be [showing demand].”
Meanwhile, De Beers is also allowing sightholders sell up to 30% of their purchases back to the miner up from the usual maximum of 10%.
“But it’s not relevant. No one will use [the buybacks],” an unnamed rough-market source said.
It was not yet clear whether De Beers had cancelled its fourth sight or not as it remained mum about it. 
The group canceled its third sight of the year due to the public health restrictions on the movement of people and product in Botswana, South Africa and India.

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