GJ Town India

Government boosts global competitiveness of Bharat’s diamond sector   Department of Commerce (DoC), Government of India has introduced the Diamond Imprest Authorization (DIA) Scheme on 21st of January 2025, aiming to enhance the global competitiveness of India’s diamond sector. This scheme provides a streamlined mechanism for duty free import of Natural Cut and Polished Diamonds, and there by promoting value addition and boosting exports. The Scheme will be implemented with effect from 01.04.2025.   According to the key features of the scheme are, 1: This scheme allows the duty-free import of Natural Cut and Polished Diamonds, of less than ¼ Carat (25 Cents). 2: This scheme mandates export obligation with a value addition of 10%. 3: All Diamond exporters holding Two Star Export House status and above and having US $15 Million exports per year, are eligible for availing the benefit under this scheme. The scheme is made in response to Beneficiation policies undertaken i...

Angola endeavour to set their diamonds credibility   The chairman of the board of directors of Endiama-EP, Ganga Júnior, and his counterpart at Maaden, Abdul Aziz Al Maqbali, began face-to-face talks between the state diamond company and its future partner.   During the meeting, Abdul Aziz Al Maqbali reported that “the two companies are quite aligned and working smoothly, and should close negotiations on investments to be carried out in the coming days”, when President João Loureço visits the Sultanate of Oman. “There are strong ambitions from both companies to strengthen the Angolan diamond value chain and the economy of both countries,” said Maqbali, after leaving the audience granted to him by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo.    Maaden International Investment is an Omani company that will hold the shares of Alrosa (41% in Catoca) and the indirect part, via Catoca, corresponding to Alrosa in Luele.    We recall ...

  Much needed traceability for diamond supply chain!   In the recently published DMCC’s report, The Future of Trade, Provenance, Traceability and Technology said, the diamond industry faces significant challenges, including changing consumer behaviour, the rise of Lab Grown Diamonds (LGD) and the G7 import restrictions. At this critical time there is a need for advanced traceability solutions to maintain the integrity and sustainability of the diamond supply chain.   Events such as DMCC’s Provenance, Traceability and Technology Forum, hosted alongside Original Luxury  in May 2024, have successfully gathered hundreds of the world’s leading diamond industry stakeholders to Dubai to discuss the main challenges linked to advancing traceability solutions in the diamond industry. The forum proved that while significant progress has been made, key challenges remain in ensuring transparency, combatting the trade of conflict diamonds, and adhering to evolving regulatory ...

Average price per carat earned US$1,213 in 1H   The Board, management and key stakeholders in Lucapa have deep global diamond industry experience and networks all through the value chain from exploration to retail. Refer to the review of operations contained in the directors’ report of the Interim Financial Report for the six months ended 30 June 2024 and the subsequent events. The consolidated interim financial statements for the half year ended 30 June 2024 have been reviewed by the Company’s auditors.    Lucapa diamond miner and explorer with assets in Angola and Australia. It has an interest in the Lulo Diamond Mine in Angola which has been in commercial production since 2015. The large, high-value diamonds produced from Lulo attracts the highest prices per carat for alluvial diamonds globally.    Lucapa also has a 39% interest in the Lulo Kimberlite Exploration Joint-Venture, which is exploring for the potential primary source kimberlites at the prolifi...

  Achieving a target to engage 5k women and girls in STEM   Recently, 2023 sustainability report communicates progress across key priority areas, focused on creating a positive impact in host countries and throughout the diamond value chain!   De Beers Group reported on progress towards its Building Forever sustainability goals, with key highlights including achieving a target to engage 5,000 women and girls in STEM (science, technology, engineering and mathematics) two years early, agreeing to establish a flagship Diamonds For Development Fund in Botswana, progressing key renewable energy projects in support of recently-validated science-based emission reduction targets, and scaling the development of Tracr, the pioneering diamond traceability platform.   Established in 2020, Building Forever is De Beers Group’s blueprint seeking to create a positive and sustainable impact for the people and places where its diamonds are discovered, closely aligned with stakeh...

Sarine technologies leveraging AI for LGD Grading  Recently Sarine Technologies Ltd presented their Review of FY2023 and said, “FY2023 A Challenging Year!” Further Sarine said, in any new equilibrium for the diamond industry, LGD are expected to account for a meaningful portion of the diamond jewellery market.  To adequately address this segment, we have adopted Gem Certification & Assurance Lab (GCAL)’s work procedures, and our LGD-focused GCAL by Sarine grading lab in India commenced operations in January this year.  Adaptation of our AI-derived grading technologies to LGD will enable further expansion of this service. We aim to attain an 8-10% share of the estimated US$ 100 million LGD grading segment in FY2024.  This month, we launched the utilisation of our industry-leading rough planning technologies on LGD on a pay-per-carat service basis. Initial responses have been positive with recurring revenue already being generated.  Additional LGD manufacturer...