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

De Beers inks sightholder sales deal with SA’s black-owned firm

10 july 2014

De Beers’ South African diamond unit, De Beers Consolidated Mines (DBCM) has clinched a deal with the black-controlled Ponahalo Holdings, which allows it to acquire 26 percent of De Beers Sightholder Sales South Africa (DBSSSA) for R2.5-billion ($234 million).
Ponahalo bought 26 percent DBCM in 2006 for R3.7-billion ($347 million) under the black economic empowerment programme.
Mining Weekly reports that the latest deal makes Ponahalo part of De Beers’ diamond sorting and valuation business.
This would enable the diamond company to fulfil its Mining Charter commitment to black economically empower both mining and marketing.
DBCM executive chairperson Barend Petersen said the deal had been eight years in the making, the delay being the result of the decline of the global diamond market in the wake of the 2008 global financial crisis and the decision of Ponahalo to also be part of the R20-billion investment in the Venetia diamond mine underground project.
He, however, said that the global market was improving.
“There is reason to be optimistic about diamond demand continuing," he said.
"Economic recovery is underway in the US where demand for diamond jewellery rose 7 percent last year and diamond consumption continued rising in emerging markets such as China.
"Luxury brands are driving demand notably amongst young western consumers and consumers of all ages in emerging markets."
Ponahalo chairperson Manne Dipico said the transaction was expected to increase cash flow into DBCM and Ponahalo strengthening the balance sheet of his company and funding De Beers' growth plans.

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