Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Today

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...

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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...

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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

AWDC courts Zim to abandon planned Dubai, Shanghai diamond tenders

14 march 2014

The Antwerp World Diamond Centre (AWDC) has urged the Zimbabwean government not to look for new markets.
AWDC led a campaign to have the European Union (EU) lift sanctions against the country’s diamonds and promised higher and transparent revenues for the Zimbabwean government through the marketing of Marange diamonds in Antwerp, the leading diamond hub.
Despite two successful tenders conducted in Antwerp last December and February, Harare was also planning to have tenders at the Dubai and Shanghai diamond centres to accurately gauge their worth.
However, AWDC thinks this would betray its commitment.
“I made a commitment to the minister of mines (former minister, Obert Mpofu) to help lift sanctions on Zimbabwe Mining Development Corporation and I worked extremely hard to keep these promises,” said AWDC chief executive Ari Epstein in an address during a parliamentary seminar in Harare.
“The export of Marange diamonds were resumed, unfortunately not to Antwerp but to the rest of the world. Why, when the sanctions are lifted are you imposing sanctions on yourselves?”
Mbada Diamonds chairperson Robert Mhlanga recently told parliament that he was against EU diamond sales. He described the auctions as “appeasing Zimbabwe’s EU foes.” Ironically, Mhlanga was recently appointed as a board member of the Dubai Diamond Exchange.
Meanwhile, Epstein said results from the recent tenders held in Antwerp had demonstrated the immense buying power and benefits the world’s leading diamond-trading platform had to offer. He said performance zoomed past expectations, as on average, the sales in Antwerp generated prices that were 30 percent above the producing companies’ expectations and 50 to 60 percent higher than prices fetched in Zimbabwe and other diamond centres.
Epstein also noted that for the first time in four years, a transparent and appropriate return on investment for the government had been achieved.
Prior to trading in Antwerp, Marange goods were sold in Zimbabwe but also in other diamond centres, at an average price of $47 per carat, resulting in an average return on investment for the Zimbabwean treasury of $7.05/ct.
By contrast, Antwerp, achieved an average price of $80/ct or $12 per carat in royalties for the Treasury.
“If all sales were to go through Antwerp, Zimbabwe would gain more than $400 million in extra revenues, resulting in an increase of $60 million of royalties per year,” said Antwerp.
“Naturally, the total sum of money flowing back to Treasury would be exponential of this figure.”

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