The Diamond Certification Laboratory of Australia (DCLA)
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An anti corruption group alleges it has evidence linking Zimbabwe’s ruling elite to a decade of disappearing diamond wealth. Top security and political leaders steeling and profiting from Zimbabwe’s diamond reserves.
London based Global Witness report published on Monday, accuses Zimbabwe’s Central Intelligence Organisation spy agency of concealing a stake in Kusena Diamonds in the Marange diamond fields in eastern Zimbabwe.Diamonds produced by the CIO linked company are traded in Dubai and Antwerp two of the world’s leading marketplaces and have funded political repression.
Zimbabwean military, and the government itself with the Companies have concealed their finances and shielded their operations from public scrutiny.
Zimbabwean officials had no immediate comment.
The Tanzanian government has announced the seizure of diamonds worth an estimated $29.5 million after accusing British company Petra Diamonds, of undervaluing the worth of the gems.
Minister of Finance Philip Mpango stated on Sunday that he had “nationalized” these diamonds, extracted from the Williamson Diamonds mine, 75% owned by Petra Diamonds and 25% by the Tanzanian government.
The diamonds were seized on 31 August at the Dar es Salaam International Airport while being exported to Belgium.
According to the Tanzanian authorities, Williamson Diamonds’ documents indicated an estimated cargo of $14.7 million, while the actual value of diamonds, deliberately undervalued, was $29.5 million.
“Williamson Diamonds documents give these diamonds a value of $14.7 million (pre-market) while the actual value is $29.5 million,” the Finance Ministry said in a release Saturday.
On Thursday, two former senior mining officials, quoted in parliamentary reports on alleged embezzlement linked to diamond mining and trading, resigned on the orders of President John Magufuli.
Former Minister of Mines, George Simbachawene, who until his resignation was Minister of State for Local Government, and the former head of the National Mining Company (STAMICO), Edwin Ngonyani, Deputy Minister of Public Works and Transport until Thursday.
The two ministers resigned at the orders of President Magufuli, who had just received the findings of two parliamentary reports that put them in question.
President Magufuli demanded that all current government officials be blamed for this case and leave without waiting for them to be dismissed.
Nicknamed “Tingatinga” (bulldozer in Swahili), President Magufuli has marked the spirits since taking office at the end of 2015 by being inflexible in the fight against corruption.
He hired a tug of war with the large foreign mining companies operating in Tanzania, after a parliamentary report accused them of dumping their production, resulting in a tens of billions of dollars in taxes and royalties since 1998.
But Mr. Magufuli’s unconscious and abrupt style also earned him the title of autocrat and populist by his detractors, while freedom of expression is increasingly reduced in the country.
Old Master paintings and classic cars have lost the luster, But the uber rich have seen their jewellery, fine wine and musical instruments jump in value again.
This according to to the Blue blooded UK bank Coutts’ passion index of the finest things. Now in its twelfth year.
Thanks to 16.4 percent rises in instrument, 11.6 percent in jewelry prices and a near 10 percent jump in wines. Also a rise in watch prices of 6.7 percent.
One of the biggest jumps is for coins where gains since 2005 hit 225 percent.
Ferrari, Aston Martin, Jaguar ,Porsche and other collectable Classic cars whose prices have risen more than 332 percent since 2005, also went into decline.
Prices for fine art dropped between 4.3 and 7.9 percent last year. Post the financial crisis the Old Masters and 19th Century Art has been the worst performers. Down by more than 40 percent on a cost adjusted return basis.
Inventories have started piling up at the manufacturing units. It will become a matter of worry if this continues for long. We do not expect manufacturing activities to be cut down due to this slowdown in export markets. Manufacturing companies may reduce rough purchases.
To help the Diamond industry limit losses when polished prices fluctuate. The Indian Commodity Exchange has launched the first diamond futures trading contract.
Diamond futures contracts work as price insurance, when fluctuations impact the value of inventories. With the futures trading traders agree on a price for a contract.
The new exchange platform gives investors a format similar to commodities exchanges such as Comex, Nymex and the London Metal Exchange.
Over 100 members and approximately 4,000 clients have registered with ICEX exchange.
The Indian government approved diamond futures trading in September 2016.
De Beers marketing spend this years is more than $140 million, This is the biggest De Beers push in a decade.
The marketing will focus on increasing consumer demand for diamond jewellery in US, China and Indian markets.
The De Beers brands, Forevermark and De Beers Diamond Jewellers. Will receive the most funding, But Debeers will also increase its contributions to the Diamond Producers Association and India’s Gem & Jewellery Export Promotion Council.
Stephen Lussier, De Beers’ executive vice president of marketing and CEO of Forevermark. Said the consumer expenditure for diamond jewellery over the past five years collectively has been the highest on record. and this made the outlook positive.
Taylor Swift Diamond Bath
In Taylor Swift’s new music video for “Look What You Made Me Do.” The pop star is seen sitting in a bathtub full of diamonds.
Well surprise they used real diamonds, no fakes. The Jewellery pieces were on loan from celebrity jeweller Neil Lane. And have a value of well over $10 million USD.
Sarine Technologies the world leader in diamond measuring and assessing is expanding its diamond report. It will include the 4C’s quality grades including the diamond’s cut, color, clarity and carat weight. This will be done using its own automated grading tools.
To get these grades for the diamonds Sarine is using its Clarity and Colour machines unveiled last year.. The two machines can automatically measure a diamond’s clarity and color, a skill usually performed by trained gemologists in laboratories like the GIA, HRD, DCLA and others.
Sarine claims it can deliver quality diamond grading with less subjectivity and fewer human errors, adding that the move would raise confidence.
Sarine is collaborating with Swiss gemological lab GGTL Laboratories on the technology.
The Asscher Cut Diamond, A Royal diamond cut, With the most light return of all step cut diamond shapes.
The Royal Asscher is owned by the Asscher family, a diamond dynasty with a 157 years of legacy.
In 1854 Joseph Isaac Asscher, a diamond artisan, established the I.J Asscher diamond company, named for his son Isaac Joseph Asscher, who followed in his father’s footsteps and entered the diamond industry.
Her Majesty Queen Juliana of the Netherlands granted the Asscher Diamond Company a royal title in 1980. A tribute to the century old leading role the Asscher family and company played in the diamond industry.
With this honor, the Asscher Diamond Company became the Royal Asscher Diamond Company.