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...

Today

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

Gem Diamonds pays Lesotho over $32m in 2019

16 june 2020
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Image credit: Gem Diamonds

Gem Diamonds paid $32.1 million to the government of Lesotho in taxes, royalties and licence fees for the year ended December 31, 2019.
The LSE-listed company is obliged to disclose payments to governments regulations that are equal to or exceed $110 000 (£86 000).
However, all payments below this threshold were excluded.
Gem Diamonds paid $17.3 million in taxes to the Lesotho Revenue Authority.
It further paid $14.6 million in royalties as well as $122 000 in licence fees to the government of Lesotho.
The company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. 
Since Gem Diamonds acquired Letšeng in 2006, it has produced more than 60 +100 carat, large, top colour, exceptional white diamonds.

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