Pandora’s endorsement of lab-grown stones will not devalue natural diamonds – Zimnisky

Jewellery retailer Pandora recently announced that it will no longer purchase natural diamonds as it had switched to lab-grown diamonds. However, diamond market analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that...

07 june 2021

“The volume of Forevermark diamonds that we drive through Indian partners is much higher than in other parts of the world,” says Sachin Jain

Sachin Jain has been a part of the Indian arm of De Beers that dates back to 2010 when he came on board as Head of Retail. In year 2014 he took over as President of Forevermark and today he is the Managing Director of De Beers, India. His single-minded...

31 may 2021

GSI's new Jaipur office to specialize in colored gemstones

Gemological Science International (GSI) has opened a new laboratory in Jaipur, India. Since this state is the capital of colored gemstones, the laboratory will have a dedicated division specializing in colored gemstone geographical origin and...

24 may 2021

“We welcome the mandatory hallmarking in the interest of consumers, but it is also essential to have proper and evenly spread infrastructure across India,” asserts Ashish Pethe, Chairman, GJC

Ashish Pethe, Chairman of All India Gem and Jewellery Domestic Council (GJC), formerly known as All India Gems & Jewellery Trade Federation (GJF) is based in Mumbai. As the third-generation heir of M/s Waman Hari Pethe Jewellers established...

17 may 2021

ALMAR is a case in point that will serve to develop the process of funding junior companies and geological exploration in general

Arkticheskaya Gornaya Kompaniya (AGK, Arctic Mining Company) develops the diamond deposits in the Lena-Anabar diamondiferous sub-province of Yakutia under the ALMAR (Diamonds of the Arctic) brand. This company attracts investments for...

10 may 2021

DRC state-owned diamond firm eyes recovery

09 june 2021
The Democratic Republic of Congo (DRC)’s state diamond company, MIBA - the Bakwanga Mining Company is expected to revive its operations following a $5 million capital injection in August last year by President Felix Tshisekedi.
Africa News quoted managers at the mine as saying that although the capital injection from the government was inadequate it would help MIBA become ‘profitable’.
"Mining has resumed with a view to relaunching with the help of the government. Five million dollars, a payment that Gécamine gave to Miba,” said Raphael Mukadi Tshindundu, technical director of Miba. “The mine is operational, exploitation is underway, but at a minimal level."
However, a diamond buyer in the country was skeptical about the resumption of operations.
"If MIBA's activity had really resumed, we would have felt it, life would have resumed, money would flow. The government owes Miba a lot of money. It does not have the will to pay this debt,” said the diamond buyer identified as Alphonse Ilunga.
MIBA is 80%-owned by the DRC government while the remaining 20% stake is owned by an unnamed Belgian company.
The mine used to produce an average annual output of 6-million carats in the early 2000s, but this dipped to no more than 500,000 carats in 2008 and half of that in 2011.

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