Silver and diamonds - the "daily bread" of jeweler

GRINGOR is a St. Petersburg-based modern jewellery manufacturing company established in 2002. It successfully develops and implements the innovations, many of which resonate with the Russians and the people abroad. In 2012, GRINGOR was awarded the honorary...

26 july 2021

Willie Nagel, a gentleman, who would have the strength and stamina to deal with business leaders and politicians, passes away

By Alex Popov

Willie Nagel passed away on July 14th. Friday he was buried in Israel. I was flying from New York with a stopover in London when it happened. Being unable to be there and express my feelings to Adam and Toni, I would like to...

20 july 2021

Diamond industry's reaction to KP impasse

The Kimberley Process Civil Society Coalition (CSC) recently said that it is planning to approach the United Nations (UN) over the impasse on the redefinition of conflict diamonds and the principles of responsible sourcing. The CSC representative...

19 july 2021

Natural and LGDs are two segments of the industry that will have to learn to coexist together

Having now completed half a decade in the diamond jewelry exporting and wholesaling industry, Anmol Bhansali received formal training on Diamonds from GIA in addition to a lengthy training in jewelry wholesaling from the factories at Goldiam. He has...

12 july 2021

L'ÉCOLE Van Cleef & Arpels: our mission is to share the jewelry culture with as many people as possible

France has gradually begun to lift quarantine restrictions on places of cultural recreation, including museums starting from May 19, 2021. The world-renowned L'ÉCOLE, School of Jewelry Arts (L'ECOLE des Arts Joailliers) Van Cleef & Arpels...

05 july 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