Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

Yesterday

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

Lesetho grants amnesty to unlicenced small-scale diamond miners

21 july 2020
Lesotho has appealed to unlicenced artisanal diamond miners to hand in their stockpile to the authorities before it starts issuing licences for small scale miners, according to local media.
Lesotho Times quoted commissioner of mines Pheello Tjatja as saying that there will be an amnesty to all persons currently holding diamonds illegally, but want to sell them with government’s assistance.
"We want to avoid false declarations of diamonds when small-scale miners eventually begin operations," he said.
"Failure to clear these diamonds could put us at the risk of being misinformed about the actual productivity of small-scale mining operations, which would negatively affect how they are developed going forward."
Tjatja said the mines ministry's legal team was developing the regulations that would guide the procedures that the dealers must follow in handing in their diamonds.
Meanwhile, the chairperson of the Lesotho Diamonds Association, Michael Molefe, has welcomed the move after local diamonds miners struggled for years to get recognition they deserved.
Currently, diamond mining is limited to large foreign investors and government has minority shareholding in these foreign owned diamond mines.
"This is a positive move that we have been awaiting for a long time. This can only be good for the country as allowing locals to enter the mining industry will create significant jobs and increase revenue generation for the government," said Molefe.

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