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

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

Trans Hex says more profitable to beneficiate own SA diamonds

07 june 2012

Trans Hex has decided to beneficiate its own diamonds in South Africa rather than selling them to non-group local beneficiators at below the tender price.
Company chief executive Llewellyn Delport was quoted as saying by Mining Weekly that the  move was also meant to avoid paying 5 percent of its diamond sales turnover over to the South African government for its diamonds, which sell at between $1 000/ct and $1 200/ct and which are sought after in international markets.
South African diamond miners were obliged to sell a minimum of 15 percent of their mining production to local beneficiators on fully commercial terms.
This was in addition to the 10 percent of output that has to be made available to the State Diamond Trader.
“Without the factory, we would probably find ourselves exposed to the 5 percent export duty year after year. So there’s a commercial advantage, which is easy to see in 5 percent of turnover,” he said.
“We have found that it’s possible to polish the right quality goods in South Africa profitably and we’re very happy that we’ve gone the beneficiation route because we can protect the tender system best this way for as long as possible.”

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