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...

Yesterday

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

SA state-owned diamond company, Alexkor comes under scrutiny

13 january 2021
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Image credit: Alexkor


South African state-owned diamond company, Alexkor has come under scrutiny at the ongoing judicial commission of inquiry into state capture, according to local media reports.
News24 reports that the commission heard last Friday that a company that was appointed to market and sell diamonds for Alexkor had links to the Gupta family.
Former executive director of Gobodo Forensics, Albert Torres told the commission chaired by Deputy Chief Justice Raymond Zondo last Friday that Scarlet Sky Investments appeared to have been a shell company when it first submitted its expression of interest to take part in a tender to market and sell diamonds for Alexkor.
He said Scarlet Sky's appointment, in 2014, was agreed to and signed off by the former CEO of the joint venture, Mervyn Carstens, even though the procurement process was flawed. 
The company was said not to have licence to sell rough diamonds but was awarded the contract. 
Torres said that investigations showed that one of the directors for the company, Kubentheran Moodley, was linked to the Gupta family business associate Salim Essa. 
Moodley, who was said to be an adviser to former Mineral Resources Minister Mosebenzi Zwane, also requested a court to interdict the Zondo Commission from accessing documentation and personal items belonging to him.
Scarlet Sky was 60% owned by a firm Moodley represented.

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