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I’ve become used to seeing inaccuracies about the diamond industry in articles in the general press. While someone who writes about a wide range of topics might misunderstand a fact or two that is not what you expect from analysts who opine on the merits of a Wall Street product, for a living, for example. […]
The transfer of De Beers Diamond Trading Company (DTC) from London to Gaborone is well under way and couldn’t come sooner for Botswana. The move marks exciting times for the southern African nation and is set to be a catalyst for much-needed economic diversification and, hopefully, significant job creation.
A report just published by the U.S. State Department’s Bureau for International Narcotics and Law Enforcement Affairs states: “Existing safeguards do not address the issue of the laundering of diamonds and value transfer through Lebanon directly or by Lebanese buying agents in Africa.” The International Narcotics Control Strategy Report Volume II Money Laundering and Financial Crimes report states that “Lebanon faces significant […]
The calls for greater transparency by the Kimberley Process were heard. A wealth of decisions, background information, data about the working groups and more are now available on the KP website.
It still feels like a new year, but we are deep enough into 2012 to have an initial understanding of where it is going, and it may not be all that good. Consumer demand looks positive, but it has its threats.
This column and many others in the world of journalism, often seeks to point out something that needs to be changed or corrected. This week, we want to commend a positive. Over the past few months, we have called on the diamond industry to do the right thing on issues of ethical behavior. In a sentence, […]
De Beers Keeps Prices Stable The Diamond Trading Company (DTC) February sight ended Wednesday with an estimated value of $600 million. The De Beers distribution unit kept prices stable with minor adjustments on specific items. The sight one year ago this month was estimated at $690 million.
In its most basic form, the role of a government is to serve the needs of a country’s population. It is responsible for providing infrastructures, an education system, health services and security to the people. To do so, it needs money. Money usually comes from the citizens of the country who provide funds to the […]
Once again, the U.S. rough diamond figures are out of whack. Of the $630.3 million worth of goods imported to the U.S., only $206.5 million remain there, less than a third of the goods – by value. The issue was discussed here a couple of times in the past, however last week the final figures for 2011 were published by the International […]
The DTC’s “dynamic distribution” system for rough diamonds will let it continuously assess the manufacturing industry and allow it to reallocate rough supplies and bring strong performers on board as Sightholders even before the current Sightholder contract period expires in 2015, said DTC CEO Varda Shine.
Prosecutors in Belgium put a trader on trial after a major police raid on his business, arrests in Israel as police investigate illegal financial activities at the diamond exchange, in India the government decides to battle round-tripping, and the U.S. State Department is talking with NGOs about how to change diamond trade regulations. Ladies and […]
The new Chair of the Kimberley Process, Ambassador Gillian A. Milovanovic does not foresee KP “going beyond the question of rough diamonds.” However, the organization is examining the definition of conflict diamonds.