However, the minister said that he refused to provide favorable conditions

It is reported that De Beers Consolidated Mines (DBCM) filed a lawsuit against the Minister of Mineral Resources of the Republic of South Africa Mosebenzi Dzhozefa Zvane (Mosebenzi Joseph Zwane), contesting its decision not to grant the company exemption from taxes on the export of diamonds in neighboring Botswana for aggregation.
Mining Weekly reports that DBCM previous year received such privileges.
However, the minister said that he refused to provide favorable conditions. According to him, De Beers «exceeded all the legal criteria for its application for exemption from payment of tax on the 2017/18 (financial) year, and never misses an opportunity to exemption from the entry into force of such a decision in 2008".
Diamonds produced by De Beers in South Africa, as well as in Botswana, Namibia and Canada, are aggregated in Botswana.
After the aggregation is completed, the rough diamonds to a higher value then re-imported in producing countries, South Africa including, for cutting.
About 40% of the diamonds mined in South Africa, De Beers company, transferred to local cutters to provide a tax exemption under section 74 of the Law on diamond exports.
It is reported that the South African De Beers sight holders provide more than 300 direct jobs at its plants in diamond cutting, which is 80% of the total number in this sector in South Africa.
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India is the world's largest producer of diamonds

Within the framework of the Russia-India with the participation of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, a Memorandum of Cooperation between the Joint Stock Company "ALROSA" (PAT) and the Council to promote the export of gems and jewelry in India (Gem & Jewelry Export Promotion Council, GJEPC). The signing ceremony was held at the Constantine Palace in St. Petersburg.

Signatures under the memorandum put the president "ALROSA" (PJSC), Sergey Ivanov and chairman of GJEPC Pravinshankar Pandya. The document reflects the positive dynamics of bilateral cooperation between ALROSA and GJEPC and outlines the main directions of its development in the next three years. In particular, the parties agreed to support the work of the Special Customs Zone (Special Notified Zone, SNZ), created on the site of Mumbai Diamond Exchange in 2015 for the diamond trade, and initiatives to establish a preferential tax regime and increase ALROSA within the zone.
The parties have agreed to support measures aimed at legislative division of markets and natural and synthetic diamonds, as well as to inform Alrosa about offenders separate sale of stones identified in the Indian market. In addition, Alrosa and GJEPC shall exchange statistical information and to cooperate in the international industry organizations - the Association of producers of diamonds and the World Diamond Council.
"India is the world's largest producer of diamonds and one of our key trading partners. In 2016, rough diamonds worth $ 752.6 million were supplied only under direct contracts in India. We see great opportunities for expansion of trade in the country, including through special customs zone of Mumbai Diamond Exchange. I am sure that the long-term partnership with such a prestigious organization as the Export Promotion Council of precious stones and jewelry, will be important for the expansion of export opportunities ALROSA in India, the development of cooperation with local manufacturers », - said Sergei Ivanov.
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Gemfields assets of a lower level

In Gemfields reported that an independent committee appointed to review the conditions of the unsolicited proposal Pallinghurst Resources for the purchase of the remaining stake in the mining company, came to the conclusion that the proposal significantly undervalues the gemstone producer.
Currently Pallinghurst owns 47% of the securities Gemfields and plans to move to the role of a diversified mining company instead of an investment fund.
"An independent committee is unanimous in its opinion that Pallinghurst offers a ridiculous fee, and clearly underestimates the company Gemfields has an exceptional management team with a clear strategy of providing additional shareholder value on a standalone basis, thanks to our unique asset base.", - said chairman of the Grem Maskall independent committee ( graham Mascall).
"Independent Committee believes that the unsolicited proposal may bring in shareholder value Gemfields assets of a lower level, which will provide access to more volatile categories of raw materials less attractive prospects", - he added.
Maskull also said the unsolicited offer, apparently, due to the expected restructuring of Pallinghurst, which seeks to protect its own interests at the expense of investment managers of independent shareholders Gemfields.
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Indian exports of diamonds, gemstones and jewelry in China

According to the Indian Consulate in Shanghai, the import of diamonds and colored gemstones from India to China grew by 28.5% during the last fiscal year to $ 2.48 billion. Thus, India has become the second largest supplier to the Chinese industry of precious stones and jewelry with 33.8 percent market share, according to a report in gjepc.org.
Indian exports of diamonds, gemstones and jewelry in China in the first quarter of the calendar year totaled $ 558 million.
Export Promotion Council of precious stones and jewelery (Gem & Jewellery Export Promotion Council, GJEPC) organized a business visit to China in order to promote the India International Exhibition jewelery (India Signature International Jewellery Show, IIJS ) 2017.
In his speech in the framework of this visit, the President of the Shanghai Diamond Exchange (Shanghai Diamond Exchange) Lin Qiang (Lin Qiang) said that his organization will actively consider the possibility of participating in the exhibition with a large delegation of representatives of the industry from Eastern China.
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Preparation of the business plan of salvation

Rockwell Diamonds said that in case of continued uncertainties facing the company, or in the absence of additional financing, the ability to continue further work for it may be questionable.
According to the audit report, for the company, there are two factors of uncertainty which could have a significant impact on its activities, namely completion of the business rescue process of implementing a new production strategy, and timely expansion of production at the mine Vouterspen (Wouterspan) in South Africa.
Application for a temporary elimination of three subsidiaries of Rockwell - Rockwell RSA, HC van Wyk and Saxendrift Mine, filed C Rock Mining in November last year, has led to the fact that the High Court of South Africa in March issued a preliminary ruling on their liquidation.
However, on appeal the court's decision for the three subsidiaries of the company procedure business reorganization instead of liquidation was launched last month.
The immediate result was that all judicial proceedings against Rockwell subsidiaries have been suspended, as does the process of elimination.
Professional managers of Metis Strategic Advisors have been appointed to oversee the Rockwell subsidiary companies, working together with the management of miners to remedy the state of business and the preparation of the business plan of salvation in order to return to commercial production.
Meanwhile, of Rockwell reported that its revenues from diamond sales during the 2017 fiscal year decreased by 31% to 26.1 million Canadian dollars compared to 37.7 million Canadian dollars a year earlier.
The company's revenues in the fourth quarter also fell by 90% to 987 000 Canadian dollars compared to 10.3 million Canadian dollars in the same period of fiscal year 2016, which was due to the termination of the Saksandrift projects (Saxendrift) and Remhugte / Holsloot (Remhoogte / Holsloot).
. "Despite the challenges, I am confident that we were able to start a reversal in the direction of increasing the profitability prospects of profit will remain under pressure as long as the monthly refinery throughput (on Vouterspen) does not increase to 200 000 cubic meters or above" - said CEO Tyart Willems (Tjaart Willemse).

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Diamond miners are unlikely to accept the proposal

Zimbabwean human rights organization "Natural Resource Management Center" (Centre for Natural Resources Governance, CNRG) said that Zimbabwe Consolidated Diamond Company (ZCDC) is not able to extract diamonds from the kimberlite deposits.
In CNRG said that the established at the beginning of last year, state-owned company does not have its own equipment and, most likely, will attract foreign investors to cooperate to develop the kimberlite deposits in Tsvingwe joint venture (Penhalonga).
"The joint venture with equal participation, is likely to be the subject of negotiations between ZCDC and its possible partner. Most likely, production will follow Marange model, where the ruling elites have identified several non-transparent companies with which they have entered into secret deals, and which caused damage to the country more than $ 15 billion, "- said in a statement, the human rights organization.
"Given the unceremonious cancellation of licenses for mining companies in the Marange diamond serious Diamond miners are unlikely to accept the proposal to Tsvingwe likely partner will still be from China or Russia." - added to the CNRG.
In early 2017 ZCDC tried to get local banks to $ 300 million to buy equipment and expand their operations, according to the Zimbabwean media.
"If it is confirmed by the discovery in Tsvingve (Tsvingwe), the project is capital-intensive, given that it will include the drilling of the shaft to a depth of about 300-500 meters," - said the representative of CNRG.
"Currently ZCDC is unable to participate in large-scale mining of diamonds in Marange, which led to an influx of thousands of miners, which fill the vacuum created by the repressed companies", - said the representative of the organization.
Meanwhile, the district Penhalonga (Penhalonga) has always been known for its rich deposits of gold, which have been developed since ancient times.
CNRG said that hundreds of miners engaged in artisanal gold mining in the whole territory Penhalonga, Tsvingve and surrounding areas, but no one has ever found diamonds here.
"This has led some experts to suggest that ZCDC want to dig for gold, but for unknown reasons, the company does not want to disclose this information," - concluded the CNRG.

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Equipment for the mining and the necessary infrastructure

Gem International announced the launch of the technical field work, including the establishment of a base camp and the purchase of equipment for the mining and the necessary infrastructure, diamond project Dala (Dala) in Angola.
According to Proactive Investors, the company examined an extensive database of previous project operators for the exploration of alluvial and kimberlite sites.
As stated in the Gem International, more than 30 high priority areas have been identified on the project. They include standard rock trap in drains of active clusters and river gravel, preserved in old bends and terraces.
The company has data on more than 900 alluvial areas, and extensive information on the exploration of kimberlites accelerate the possibility of setting priorities for the initial work areas.
"We know that in Dala located at least 5 new kimberlite pipes, as well as numerous other untested target areas," - say in the Gem International,
"Alluvial diamonds, which are currently mined in Dala probably come from diamondiferous kimberlites on the concession", - concluded the company.

Has a large number of high-quality precious stones

ountain Province Diamonds Inc. It managed to get two large diamonds of gem quality diamond mine Gacho Quay (Gahcho Kue), which is its joint venture with De Beers Canada.
Two stone weighing 84.65 carats and 53.90 carats were discovered in April.
Mountain Province also won the bid for a fancy and special diamonds mined on the project in April 2017, so the above stones are now owned by the company. They will be part of the upcoming sales in Antwerp, Belgium.
President and CEO Patrick Evans, Mountain Province (Patrick Evans) has commented: "The diamond weighing 84.65 carats is the largest gem-quality stone that came from us today, and was a further confirmation of the fact that Gacho Quay has a large number of high-quality precious stones. Special diamond weighing 53.90 carats, it has the highest quality of all the mined rock to the present time. it is expected to reach a record price in the tender. "
Mountain Province expects to submit an updated plan to the life cycle of the mine Gacho Quay from the De Beers Canada operator, as well as an updated financial model, further analysis of pricing and diamond fluorescence, which is to prepare an external consultant. The report will be published before 31 August 2017.

Business environment similar to Dubai and Belgium

Diamond miner Alrosa is seeking tax incentives from the Government of India in the course of negotiations on a trade mission to diamond dealers in Mumbai.
ALROSA Group sold rough diamonds in small quantities in the exhibitions organized in the special customs zone of the Indian Diamond Exchange (Bharat Diamond Bourse). The basic volume of rough diamonds sold through the centers of the zero tax rate in Dubai and a low tax rate in Belgium.
While the Indian government is in favor of VAT due to the preliminary assessment of rough diamonds ALROSA wants to equate to the Belgian tax rates with a view to increasing the supply of Indian refiners.
Alrosa supplies about 8% of the diamonds of the total annual imports of India to 153.31 million carats worth 17.08 billion dollars.
"Foreign mining companies are looking for a business environment similar to Dubai and Belgium. Ultimately, rough diamonds, which they offer to customers in the two countries mentioned, are sent to India, as the majority of investors are of Indian origin. We asked the government to reduce the tax to the level of Belgium. The current business environment makes business go to Dubai and Belgium ", - said Sabiasachi Roy (Sabyasachi Roy), executive director of the Export Promotion Council of precious stones and jewelry (Gems and Jewellery Export Promotion Council, GJEPC) local newspaper.
It is reported that the Indian government has taken the first step in this direction by signing a Memorandum of Cooperation (MO) with ALROSA June 1, 2017. This is expected to lead to the creation of a favorable tax structure. India is the largest diamond cutting center in the world, while ALROSA is the largest producer of rough diamonds by volume in carats. Cooperation between them will have a big impact on the global diamond industry, the paper said.
"The Memorandum of Cooperation between ALROSA and GJEPC - the first step towards the creation of a Russian company in India offices. Over time GJEPC urged mining companies to sell rough diamonds directly in the Indian market, and possibly a memorandum of cooperation will be the first step towards achieving this goal, "- said Pravinshankar Pandya, chairman of GJEPC.

Campaign "Diamonds do good"

Consumer Marketing Strategy Diamond Empowerment Fund (Diamond Empowerment Fund, DEF), aimed at creating a positive image of polished diamonds reached outstanding success, according to IDEX Online portal, which quoted a message from the organization.
The marketing campaign, "Diamonds do good» (Diamonds Do Good) with a particular focus on consumers of "two thousandth generation" strikes outstanding performance, notice in the DEF.
As part of the target media plan, including the publication of materials on Hulu, Pandora, YouTube, and online strategy of influence, it is noted that the campaign "Diamonds do good" resonates with consumers.
The recently updated website DiamondsDoGood.com draws trends and preferences "millennial". New sections include the history of celebrities who advocate the message of "doing good", as well as a special section called "Nearby jewelers, strengthen community ties," which tells the story of independent jewelers that benefit their own communities.
To help retailers to convey a powerful message to your existing and new customers in the JCK Show Foundation will hold a seminar entitled "What they want and what you need to know your customers: how diamonds are doing good."