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

Belgian judge reserves ruling on Amari’s bid for Zim diamonds to October 16

06 october 2014

A Belgian judge at the court of First Instance in Antwerp, who heard the case in which Amari Platinum is gunning for Zimbabwe’s diamonds worth about $45 million last Thursday, has reserved ruling to October 16 when it would be determined whether or not Harare regains ownership of the precious stones.
About 500 000 carats of diamonds that were on sale last month at the Antwerp World Diamond Centre (AWDC) were first attached by Amari Platinum before the Belgian court reversed the seizure, pending the court ruling.
However, a group of white former commercial farmers proceeded to attach the same diamonds on the basis of an International Centre for Settlement of Investment Disputes arbitration award against the Zimbabwean government to compensate the ex-farmers.
The Dutch farmers had been battling to get Harare to pay them $54 million awarded in 2009 by the Washington-based body for breach of a bilateral investment treaty following the compulsory acquisition of their properties.
The state-controlled Sunday Mail reports that the latest court decision meant that the Amari suit and the case of the commercial farmers would be both dealt concurrently.
Zimbabwe’s legal team argued that Amari’s case was legally flawed.
“The erroneous founding basis of Amaplat’s case is that no diamond mining entity in Zimbabwe is allowed to mine diamonds on its own account and that all these entities have been set up to front the ZMDC,” reads part of the arguments seen by the weekly.
“…their position is unsustainable at law as all entities are legally separate from the ZMDC.”
Meanwhile, the head of Zimbabwe’s legal team Farai Mutamangira was also quoted by The Sunday Mail as saying that the judge who initially awarded Amari Platinum the right to attach the precious stones was a British national “with a bias against Zimbabwe owing to frosty relations between London and Harare”.
He also said that the arbitration violated legal procedures as the case was still pending in the courts.
“To allow for the disposal of the appeal by Amari in the Supreme Court of Zambia, our counsel in Zambia has advised that proceedings to set aside the Amari award are now set for the 21st of October 2014,” he said.
The conflict stems to 2010 when Harare cancelled Amari’s joint venture with the ZMDC because the South Africans had prolonged exploration in Great Dyke beyond the stipulated duration.
When Amari applied for a mining licence, Harare claimed the exploration was undertaken unlawfully.
By 2011 ZMDC was to take over and start mining on its own.

Riled by this development, Amari addressed the Paris-based International Court of Appeal with a $500 million suit, which decided that the platinum miner should be compensated.

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