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...

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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

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23 august 2021

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

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16 august 2021

Botswana opts not to raise De Beers stake, clears way for Anglo

01 august 2012

Botswana has decided not to take up its preemptive rights to acquire an additional 10 percent stake in De Beers.
Botswana, which holds a 15 percent stake in the diamond company could have coughed out over $1 billion, had it decided to exercise its rights.
Anglo said in a statement posted on its website that Botswana’s decision meant that it would acquire an incremental 40 percent interest in De Beers for a total cash consideration of $5.1 billion, taking its total interest to 85 percent.
"The innovative partnership between Anglo American and the Government of the Republic of Botswana (GRB), as the shareholders in De Beers, is a clear demonstration of the level of commitment of the GRB to the long term prosperity of the world’s leading diamond company,” said Anglo chief executive Cynthia Carroll.
“We look forward to strengthening this longstanding and proven partnership which provides a close alignment of interests between Anglo American and Botswana and builds upon the ten year sales agreement between De Beers and the GRB in relation to Debswana’s production."
Analysts had said last month that Botswana would unlikely boost its shares in De Beers, as there was little strategic rationale in Gaborone spending $1.26 billion to increase its stake in a business, which it effectively “controls”.

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