Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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16 august 2021

Namdia profit plunges 41%

16 september 2020
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Image credit: Namdia


Namibian state-owned Namib Desert Diamonds (Namdia) says its profit after-tax eased 41% to N$95.2 million in the financial year ended 31 March 2020 compared with N$161.9 million, a year earlier.
The profit before tax was N$150.1 million.
Namdia paid N$62.9 million in taxes to the Ministry of Finance and declared a dividend of $80 million to the Namibian government.  Company chief executive Kennedy Hamutenya said in a statement accompanying the company’s 2019 financial results that NAMDIA conducted 10 sales totalling 253,073.37 carats for an average price of $528.64 per carat.
“In the last quarter of the financial year, in mid-January 2020, the diamond industry was profoundly, adversely impacted by the outbreak of COVID-19,” said Hamutenya. “The diamond centres worldwide closed and diamond trading declined sharply in February due to economic uncertainty surrounding the corona virus.”

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