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...


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

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Ghana defends takeover of diamond company

25 september 2020
Image credit: GCDGL

The Ghanian government has defended its decision to take over the Great Consolidated Diamonds Ghana Limited (GCDGL) from a local private investor, Jospong Group of Companies.
Jospong, which took over then Ghana Consolidated Diamond Company (GCD) in 2011 under a privatisation deal and renamed it GCDGL, had agreed to invest $100 million over five years to produce 1-million carats every year over the period.
Director-General of the State Interests and Governance Authority (SIGA), Stephen Asamoah Boateng, was quoted by Ghanaweb as saying that Jospong had only paid $3.8 million.
“The fact that you are Ghanaian company does not mean that if you are not performing we should leave you to destroy [the agreement],” said Boateng.
He said GCDGL may soon go public.
“We are not selling, we are going public…going on the Ghana Stock Exchange is an option,” said Boateng.
“We have been given a number of options and those options have been put before Cabinet. Until [a decision is taken] the details I will reserve for now.”
Jospong has approached the court to challenge the takeover.

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