The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

Today

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

Diamonds to fund a third of Botswana’s state budget

04 february 2015
Botswana said the country’s diamond sector is expected to provide about a third of the BWP55.38 billion ($5.76 billion) state budget in the coming financial year.
Finance minister Kenneth Matambo was quoted by AFP as saying that although Botswana derived significant income from diamond mining, non-mining sectors like tourism and finance drove last year's growth.
He said the southern African country recorded a GDP growth rate of 5.2 percent last year.
"This positive growth is however likely to be undermined by the downside risks associated with growth prospects in the global economy, resulting in reduced revenues, specifically from diamonds," the minister said.
Botswana was expecting a GDP growth rate of 4.9 percent in 2015 while mineral revenue was projected to grow by 10.4 percent.
The southern African country had been pushing for an economic diversification as diamond supply was expected to slump drastically by 2025.

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