GJ Town India

  Although false KP certificates are rare,  industry caution is still recommended: WDC   Recently Mark Van Bockstael, Chair, KP Working Group of Diamond Experts & Chairman, WDC Technical Committee said, “Although false KP certificates are rare, industry caution is still recommended!”  Several times a year, with uncanny regularity, the international diamond trade receives alerts from the Kimberley Process (KP) about yet another false certificate that has been encountered, and for which it is asked to practice enhanced vigilance.   Together with the mostly negative media coverage such news generates, many diamantaires wonder whether the Kimberley Process Certification Scheme (KPCS) is still functional, remaining capable of delivering on the mandate that KP received from the United Nations in 2000, of breaking the link between armed conflict and the diamond trade.   How gloomy this all may seem. But the truth is that the KPCS is still very much alive...

Edit: One village one skill theory! Recently Narendra Modi, Prime Minister-India interacted with Bill Gates and suggested that the Gates Foundation could take the lead in analysing the necessary changes in lifestyles, economic organisation, social behaviour, modes of disseminating education and healthcare that would emerge in the post-Covid-19 world and the associated technological challenges that would need to be addressed. He said that India would be happy to contribute to such an analytical exercise based on its own experiences. This is to understand amid Covid-19 lockdown. What PM India is thinking for the post Covid-19 era? Where the direction and wind is blowing! De facto this is the critical time for every government and policymakers that to lead their nation in very precise manner. There is no room for policy mistake amid, lower charting trade & geopolitical tensions! I think direction India is very clear and precise, here I will focus on two, 1: Rajiv Meh...

KP Ad Hoc Committee on Reform and Review meeting during April 25 and 26 is likely to focus much on the broader understanding of the term, conflict diamonds-contained in the System of Warranties (SoWs). Recently Stephane Fischler, WDC President said, “It is our fervent hope!” in the context! De facto WDC is also lobbying for a strengthening of the standards and modalities currently in place within the KP, like the peer review mechanisms, better data gathering and the establishment of a permanent KP Secretariat. All this should be achieved within the content of the KP's proven tripartite structure, involving government, industry and civil society. Reform cannot be imposed. It should be introduced in a spirit of cooperation and fairness, with a consistent commitment to strive for better. Earlier, in the February, the Kimberley Process Civil Society Coalition (KP CSC) had participated in a panel discussion entitled, ‘From blood diamonds to peace diamonds: conflict preve...

Pol Van Der Steen elects Vice-Chairman The International Diamond Council (IDC) has elected Julien Drybooms as its new Chairman, while Pol van der Steen is the new Vice-Chairman. The IDC's board members are: Harry Levy, Stephane Fischler, Rajender Gehani, Dieter Hahn, Christine Heiderich, Peter Hofer, Alan Loewe, Jochen Muller, Udi Sheintal, and Meir Wertheim. "I am very pleased to take on this important position and I am honoured to have been elected," said Drybooms. The IDC has been in operation for more than 40 years, and its role is just as important today as it has ever been. "I must express the gratitude of the IDC and its member organizations: the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) to Harry Levy, the former IDC President. He led the IDC for many years and gave outstanding service as its head. I am delighted that Harry has agreed to remain as an IDC Board member." T...

The Rapaport Group announces the launch of Rapaport Laboratories India LLP and the RapLab Consultation Card. This new RapLab Consultation Card (RCC) provides essential diamond grading information and RapNet Quality Verification. Designed for affordable B2B trading by small and medium size companies, the RCC includes BGM, EyeClean, Fluor, Sarin Measurements and Synthetic Testing. The Consultation Card can also be upgraded to full RapLab Diamond Grading Report featuring extensive gemological information and a sophisticated print report format. “The launch of Rapaport Laboratories India LLP (RapLab) and the new RapLab Consultation Card will improve B2B trading opportunities in the Surat and Mumbai markets. RapLab services will include the grading of melee and parcels using trade standards and terminology. It will provide buyers with customized quality control and grading services enabling direct sourcing from the Surat and Mumbai markets.   Our goal is to provide a bro...

Average value per carat remained of US$ 927.87 Trans Atlantic Gem Sales (TAGS) recently held a rough diamond tender in the Almas Tower at the Dubai Diamond Exchange in Dubai from the 26th March to the 2nd April 2019. Two regular productions from South Africa and Angola were again presented, including a Namibian production. All materials were of high quality and high colour and featured a significant number of large single stones and exceptional specials. According to TAGS, total tender sales of US$ 38,364,624.96 and over all 41,346.93 carats sold in total by acquiring average value per carat of US$ 927.87 only. Over all 204 companies participated in the tender process. It is to know, TAGS again presented their regular productions from South Africa and Angola which continue to be well received. Specialist manufacturing companies from India, Belgium and Israel were in attendance. TAGS utilised 30 showing rooms in the Dubai Diamond Exchange to present the productions ...

Performance of Diamond Verification Instruments announced! The joint collaboration by the Diamond Producers Association (DPA) and Signet Jewelers – the ASSURE Program has published the results from the independent performance tests of Diamond Verification Instruments in the Assure Directory on diamondproducers.com/ASSURE. Through the Assure Directory trade participants can access objective and third party verified information on the relative performance of Diamond Verification Instruments and guidance on how to ensure that their business is protected from undisclosed laboratory grown diamonds.                 Jean-Marc Lieberherr, CEO of the Diamond Producers Association, said “Trade participants have a shared responsibility to disclose the nature of the product they are selling to protect the end consumer. Through the ASSURE Program we will support the diamond trade, from independent jewelle...

Organises Bankruptcy Awareness Programme The Insolvency and Bankruptcy Board of India (IBBI), in association with the three Insolvency Professional Agencies, namely, the Indian Institute of Insolvency Professionals of ICAI, the ICSI Institute of Insolvency Professionals, and the Insolvency Professional Agency of Institute of Cost Accountants of India, organised an Insolvency and Bankruptcy Awareness Programme at Vadodara, Gujarat recently. A large number of stakeholders, including students, professionals, bankers, and business persons participated in the programme. While inaugurating the programme, Hon’ble Mr. H. P. Chaturvedi, Member-Judicial, National Company Law Tribunal-NCLT, Ahmedabad detailed the role of the Adjudicating Authority in respect of Corporate Insolvency Resolution and Liquidation Processes under the Insolvency and Bankruptcy Code, 2016 (Code). He stated that the Code is a dynamic law and is evolving continuously to meet emerging needs. Resolut...

These special diamonds will be showcased in Antwerp and Israel to large diamond specialists from around the world before bids close Rio Tinto and Dominion Diamond Mines have revealed three of the finest large rough diamonds from their Canadian diamond mine that will be tendered to diamond specialists from around the world.   Collectively known as The Diavik Stars of the Arctic, the three rough diamonds showcase a rare combination of size, quality and colour from the Diavik diamond mine in the remote Northwest Territories of Canada, 220 kilometres south of the Arctic Circle. The Diavik Stars of the Arctic will headline Rio Tinto’s forthcoming Specials Tender, which showcases rough diamonds greater than 10.8 carats. Taking their inspiration from constellations across the night skies of the North, The Diavik Stars of the Arctic comprise: •              Lot 1: Vega of the Arctic™, 177.71 carats, on...

Services Agreement for Mining and Marketing Tango Mining Limited announces that it has signed a Services Agreement for Mining and Marketing of Diamonds with Cooperativa Mineira Do Moquita, SCRL on a 147 square kilometer portion of a concession located 50 km north of Lucapa within the Lauchimo River basin, Province of Lunda Norte, Republic of Angola. Tango is responsible for capital expenditures associated with alluvial diamond mine design and equipment acquisition as well as enhancing production. As remuneration, Tango will receive 60% of the proceeds from the sale of produced diamonds. The Moquita Property, is located approximately 50 km downstream from the high diamond value Camútuè kimberlites. These, and possibly other kimberlites, have fed extensive downstream alluvial diamond deposits along ancient, north trending river systems including the Lauchimo River, which flows south to north across the Property. Such alluvial diamond deposits have been exploited by arti...