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

Suashish closes jewellery plant in Botswana

23 july 2012

Suashish has mothballed its diamond jewellery manufacturing plant in Botswana, less than a year after starting operations, citing unattainable raw material costs, reported.
The global diamond and diamond jewellery manufacturing and exporting company opened the plant eight months ago to become the second Diamond Trading Company Botswana (DTCB) sightholder, after Shrenuj Botswana, to further beneficiate the precious stones locally.
In an interview with Business Week, Diamond Hub coordinator Jacob Thamage, confirmed the closure of the plant whose establishment last year was the hallmark of diamond downstream beneficiation, employing forty people.
"We have received communication from the owners of the company in India that they have decided to mothball the plant due to the high costs of raw material, particularly gold and other precious materials. We don't know how long the plant will be closed for or what is going to happen to the workers. We are still trying to get more information. The diamond cutting and polishing plant however remains operational," he said.
The fate of the jewellery plant workers is still unclear.  Efforts to get a comment from Suashish officials both locally and in India proved futile by press time. The closure of the plant will be a setback for diamond beneficiation as Suashish is one of only two DTCB sightholders to take the first step further into the diamond value chain, adding jewellery to diamond exploration, mining and polishing activities conducted locally.
In 2007, Suashish Diamonds became the first Indian company to receive DTC Sightholder status in Botswana and invested close to P15million ($2 million) to set up a 10,000 square feet diamond cutting and polishing facility in Gaborone.
The Mumbai Stock Exchange-listed company sells both polished diamonds and diamond jewellery throughout the world from a network of sales offices located in Mumbai, New Delhi, Hong Kong, Dallas and Ottawa.