WFDB welcomes DTC decision to sell to secondary market

The World Federation of Diamond Bourses (WFDB) has welcomed the initiative by the rough diamond-selling arm of De Beers, the Diamond Trading Company (DTC), that it will explore the option of making available rough goods not taken up by DTC...

Panama prepares to launch new diamond exchange

Top Panamanian government officials and diamond and jewellery industry leaders will gather in the country later this week for the official launch of the Panama Diamond Exchange. The exchange, which will be Latin America' first and only complex...

State Diamond Trader’s contract cut, hold-back plea on ‘green energy’ tax, tax-free capex-back mining incentive

South Africa’s troubled State Diamond Trader (SDT) was awaiting guidance from the Department of Minerals and Energy (DME), at the time of going to press, on the issue of the appointment of a new CEO, as past CEO Abbey Chikane is no longer with...

State Diamond Trader CEO Chikane’s contract not renewed

South Africa’s troubled State Diamond Trader (SDT) was awaiting guidance from the Department of Minerals and Energy (DME) about the appointment of a new CEO, as past CEO Abbey Chikane was no longer with the organisation after his contract came...

State Diamond Trader CEO unhappy with progress to date, hopes to achieve targets by March

The State Diamond Trader (SDT), established to buy 10% of the country’s diamond production for sale to local cutters and polishers, has completed its first “critical” six months of operation, and achieved necessary targets, but says that he...

Diamond body urges members to boycott Venezuela gems

Do not buy diamonds from Venezuela or face expulsion, the World Federation of Diamond Bourses (WFDB) warned its members on Wednesday. This came after the South American country earlier this month suspended itself from the Kimberley Process (KP),...

Diamond bodies clarify labeling of synthetic gems

Three major international trade organisations in the diamond and jewelry industry reached an agreement to abide by the new International Diamond Council (IDC) rules, particularly regarding terminology of synthetic diamonds, at the thirty-third...

Two South Africans appointed to diamond-industry leadership positions

South Africa’s leadership role and status within the global diamond industry has been greatly enhanced through the appointment of two South Africans to prominent leadership roles within the industry two weeks ago.

Demand for rough 200% greater than supply - South Africa's SDT

South Africa is the world's third-largest diamond producer, with an annual production of about 14,5-million carats. Yet, only some 5% of the country's diamond production was last year cut and polished in the country; the rest was...

Demand for rough 200% greater than supply, says South Africa’s new State Diamond Trader

The funding South Africa’s new State Diamond Trader (SDT) receives from the State-owned Industrial Development Corporation needs to be increased from R350-million a year to R1-billion annually, says SDT CEO Abbey Chikane. “Already,...

Strong prices in 2008, says world diamond bourses president

Higher-range rough diamond prices will remain robust in 2008, with demand outstripping supply for the foreseeable future, says World Federation of Diamond Bourses president Ernie Blom.

Strong diamond prices expected as China, India become major consumers

Higher-range rough diamond prices will remain robust in 2008, with demand outstripping supply for the foreseeable future, the World Federation of Diamond Bourses president said on Monday. "We should see very strong prices," Ernie Blom,...