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

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

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

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Angel Diamonds Sale Thwarted by South African Reserve Bank

08 april 2009

According to Thabex, which owns 70% of Angel Diamonds, the proposed sale of a stake in the latter to Mantle Diamonds has been prevented by the South Africa Reserve Bank, reported.
The South Africa Reserve Bank reportedly maintained that Angel could not be sold on extended credit terms. It further contended that the issue of Mantle ordinary share to Angel shareholders would constitute a loop structure. In a statement to the Johannesburg Stock Exchange, Thabex declared: “Accordingly, shareholders are hereby advised that Thabex will not proceed with the disposal of its interest in Angel and a circular to shareholders will not be sent in terms thereof.”
After reporting an 18% growth of its net loss in 2008 to R7.9 million, Thabex announced the sale of a 42% stake in Angel.
Thabex CEA Marius Welthagen stated: “We are confident that the production of rough diamonds from the Kolo Kimberlite Project, the disposal of the company’s interest in Angel Diamonds and the proposed disposal of the Middelwater alluvial diamond project will generate sufficient cash flow to enable the group to be able to settle its liabilities in the normal course of business.”