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

BlueRock mulls diamond investment fund

22 may 2020

Image credit: BlueRock

BlueRock Diamond is considering a diamond investment fund to buy its rough stones during this period of market uncertainty, according to Mining Capital's Alastair Ford.
He said in an interview posted on YouTube by Proactive Investors that BlueRock would then buy the same production back from the investment fund for resale into the open market or at a tender.
“There is a fee for it, 1.25% per monthly transaction, it allows the company to continue with production, cover its operating margins…that’s the type of thing that is needed by mining companies in these unusual situations,” said Ford.
He also said that BlueRock’s production at Kareevlei, in South Africa was now back at pre-lockdown levels.
“Because of the broader situation the company’s expansion plans at Kareevlei, are currently on hold, but the operation as was before the lockdown was imposed is back to normal,” said Ford.
“…so production will be running let’s say 400 000 tonnes and it could be a bit more.”
BlueRock had placed the Kareevlei operation on care and maintenance during the lockdown, with only a small team retained on site to ensure that the plant and machinery was kept in working order and can be brought into production at short notice.    
It also reduced costs to an absolute minimum with all but essential staff furloughed. 
BlueRock Diamonds recently entered into an agreement with Bonas-Couzyn N.V, part of the Bonas Group to market the Kareevlei diamonds through its Antwerp facility.    
The company had been reviewing its sales strategy prior to the COVID-19 pandemic to gain access to the Antwerp diamond market, which attracts significantly more buyers than the South African diamond market.   

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