rio tinto’s q3 diamond output slips 15% to 3.54 mn cts · licence will be granted as of january...

SPECTRUM

Rio Tinto’s diamond output declined 15% to 3.54 million carats during the third quarter of 2014 owing to a steep production decline at its flagship Argyle mine in Australia and flat year-on-year output at Diavik in Canada.

At Argyle, the 7.37 million carats recovered during the first nine months were 10% lower than in 2013 reflecting the move from open-pit to underground mining and the processing of lower grade tailings in the first quarter of 2014 as underground production ramped up. The second crusher was successfully commissioned during the third quarter, which saw higher throughput offsetting lower grades to keep carat production in line with the previous quarter.

Argyle’s third-quarter output of 2.45 million carats fell 20% versus a year earlier and remained flat compared with the preceding second quarter of 2014.

Diavik had strong operational performance in the first nine months of the year with a 10% increase in output, at 3.41 million carats, compared with the corresponding period of 2013. This was due to improvements in mining rates, with all three pipes in full production, as well as processing plant improvements implemented over the past six months. Production in the third quarter remained flat year-on-year at 1.004 million carats and was down 22% compared to the previous quarter as a result of lower grades and throughput after the majority of stockpiled ore was processed in the first half.

Carats recovered at Murowa in the first nine months were 12% higher at 243,000 carats than in 2013 and 29% higher at 29,000 carats than in the third quarter of 2013 due to improved throughput and grades.

Rio Tinto’s Q3 Diamond Output Slips 15% To 3.54 Mn Cts

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Rio Tinto’s 2014 production guidance for diamonds is 15 million carats (previously 16 million carats) which reflects a maintenance shutdown at Argyle to implement some improved design modifications to both underground crushers.

The company spent approximately $90 million on exploration and evaluation of diamonds in the first nine months of the year.

Titan Company’s e-commerce portal www.titan.co.in now offers international shipping for its jewellery products to customers in the US, UK, Singapore, Australia and UAE.

This new feature has been launched for a selected range of jewellery products, keeping in mind the interest of non-resident Indians (NRIs) and people of Indian origin (PIOs) in purchasing ethnic products and jewellery from India, especially during the festive season. Titan has tied up with PayPal for payments and United Parcel Service (UPS) for handling the logistics of its international orders.

Titan also revamped its online portal, offering a fresher responsive design that is convenient for mobile phones and tablets. The website sells jewellery, watches, optical eyewear, sunglasses, backpacks, bags, perfumes, wallets and belts among others from its in-house brands. The website will soon scale its overseas shipping to include more countries in the future.

Titan’s E-commerce Portal Goes International

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Hollywood star Mila Kunis has partnered with Gemfields and Italian jeweller Marina B to create a special emerald ring that honours motherhood and also gives back. Crafted in 18-karat yellow gold, and

featuring a Gemfields Zambian emerald with the signature Marina B cut, the ring offers a modern design at a more accessible price point.

“We are very excited about the new Mila ring, as it will introduce the iconic Marina B style to a new generation,” said Paul Lubetsky, CEO of Marina B. “While we created it for Mila in celebration of Wyatt’s arrival, this is the kind of ring any woman can wear.”

Gemfields Ambassador Mila Kunis Designs Ring For Charity

WTOCD Grants Coborn Licence For New Polishing MachineCoborn Engineering Ltd has acquired WTOCD’s (Wetenschappelijk en Technisch Onderzoekscentrum voor Diamant or The Scientific Research Centre for Diamonds) patented grain independent polishing technology for a new diamond polishing machine.

The licence will extend existing technological cooperation between WTOCD and Coborn with the machining of diamond materials for industrial applications. The exclusive licence will be granted as of January 2015. The machine will complement Coborn’s existing product portfolio,

allowing up to 12 times faster machining of diamond-based, industrial, super-hard materials. Commercialisation of the first machines with the new technology is expected to take place at the beginning of 2016.

WTOCD assists the Belgian diamond sector in increasing their competitiveness by making high-tech products and services available. WTOCD keeps the exclusive rights on grain independent polishing of gem quality diamonds and is currently working with Coborn’s support on a new prototype for automatic gem diamond machining.

With the world gearing up for the fall season, Jewelers of America (JA), the national association for businesses serving the fine jewellery industry, highlighted jewellery trends for the season.

“For centuries, jewellery has been celebrated as an important part of fashion,” said JA spokesperson Amanda Gizzi. “This season, we are seeing bold colour and whimsical statement jewellery taking centre stage.”

Jewellery with messages – favourite words, mantras or special messages – as well as enamelled jewellery with its endless range of colour possibilities will be in the spotlight this season. “Jewellery designers are using enamel to add colour and pattern to their jewellery designs. The enamel jewellery trend can be seen in everything from playful statement charms to sophisticated gemstone pieces,” stated the Jewelers of America press release.

Jewelers of America predicted that tanzanite will be in great demand this season. Tanzanite, a purple-blue gemstone, has the perfect blend of two of Pantone’s fall 2014 colour picks: radiant orchid and dazzling blue.

Jewelers Of America Forecasts Fall Jewellery Trends

Alex Woo ‘Little Words’ Necklace.

Pinar Oner Design Atelier yellow gold and enamel ring.

Elena Kriegner Tanzanite Necklace.

All of the profits from sales of the $4,800 ring will be donated to the Nkana Health Centre in Zambia, where the Gemfields mine is located. Funds will be used to upgrade the hospital’s facilities and build a dedicated maternity centre.

Ian Harebottle, CEO of Gemfields, added, “Having worked with Marina B on a previous collection of emerald jewellery, it was only natural that we would collaborate on a piece for our brand ambassador, Mila Kunis, as she starts her journey into motherhood. Not only is the ring beautiful, but it furthers our commitment to social responsibility.”

The ring is available by special order at Marina B’s 57th Street flagship boutique in New York, or through the Marina B website at www.MarinaB.com/Mila.

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GII Holds Seminar On Synthetic Diamond Awareness In Nagpur

The Gemmological Institute of India (GII) and the Nagpur Saraf Association (NSA) arranged a seminar on the awareness of synthetic diamonds and coloured gemstones on September 28 at Hotel Centre Point, Nagpur. The seminar was attended by many prominent NSA members and a large number of diamond and gemstone traders.

GII chairman Bakul Mehta addressed the gathering and welcomed NSA president Ravikant Harde, Navyuvak Saraf Association president Rakesh Gupta and Rajesh Rokade of Bhayyaji Rokade Jewellers for helping GII organize the event.

GII senior gemmologist Silvia Sequeira introduced the


institute’s educational and laboratory services and gave a presentation on navgraha gemstones. Her speech was followed by a presentation on synthetic diamonds, specifically the identification of CVD and HPHT diamonds, by Milind Varhadpande, senior diamond grader, GII.

During the subsequent Q&A session, Bakul Mehta advised the members to randomly select a few diamonds from a parcel and get them tested at a reputed laboratory before purchasing loose diamonds in bulk. He also warned members to be cautious of diamonds offered at substantially lower prices versus prevailing market values.

Bakul Mehta addressing the gathering. Also seen are GII senior gemmologists Silvia Sequeira and Milind Varhadpande.

The audience listening with rapt attention.

LVMH Revenue From Jewellery & Watches +2% In Jan-SeptLVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, reported a 2% growth in revenue from its watch and jewellery business, at €1.972 billion (I15,401 crore), for the first nine months of 2014. The watches and jewellery business group recorded organic revenue growth (comparable sales at constant exchange rates) of 5% in the January to September 2014 period.

“The third quarter showed a notable acceleration in the jewellery segment, driven notably

by Bvlgari, while watches continued to be impacted by the cautious purchasing behaviour of multi-brand retailers in an uncertain economic environment. The launch of the new watch for women Lvcea by Bvlgari and the success of Hublot’s iconic lines were the key highlights of the quarter,” the company noted.

LVMH’s watches and jewellery division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers.

Overall, the group recorded a 4% increase

Chaumet necklace in platinum, set with diamonds with a brilliant-cut FVVS1 diamond of 1.01 carats, a pear-shaped EVVS1 diamond of 1.70 carats and a pear-shaped EVVS2 diamond of 3.16 carats.

in revenue to reach €21.4 billion (I1,67,093 crore) for the first nine months of 2014. Organic revenue also grew by 4% compared to the same period in 2013.

“In an uncertain economic and financial environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2014,” the company said.

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Warburg Pincus, a private equity firm, has invested I1,200 crore in Kalyan Jewellers, making it the largest private equity investment in jewellery manufacturing in the country.

Kalyan Jewellers plans to use the funds to enhance the number of exclusive outlets in existing markets as well as enter into new regions with an emphasis on North and West India. The brand also plans to rapidly scale up its global presence in the Middle East (foray into Kuwait and Qatar) and Southeast Asia (foray into Singapore and Malaysia).

Kalyan will add over 28 new outlets in the next six months and will broaden its bespoke design segment as well as strengthen its ability to offer affordable studded jewellery.

Vishal Mahadevia, managing director and co-head of Warburg Pincus in India, said, “T.S. Kalyanaraman along with his sons, Rajesh and Ramesh, have undoubtedly built a market-leading brand and an organisation of scale. Warburg Pincus’ investment in Kalyan Jewellers is the largest private equity investment in the jewellery industry in India, and is an acknowledgment of the company’s highly-talented team, its pioneering role within the industry, and its commitment to the highest levels of customer service. We are excited to partner with the team at Kalyan Jewellers as they continue to grow the business going forward.”

T.S. Kalyanaraman, chairman and managing director, Kalyan Jewellers, said, “We are delighted to welcome

Warburg Pincus Invests K1,200 Crore In Kalyan Jewellers

Warburg Pincus as our growth partner. Jewellery is one of the largest consumption categories in India, and Kalyan Jewellers has created a unique position as one of the largest and most trusted jewellery brands in India. We look forward to working with Warburg Pincus as we continue to build on our foundation and move onto our next phase of growth.”

Tanishq Ties Up With Damas For GCC Launchwe believe that quality comes from innovation and creativity is at the heart of the brand. We are committed to serve our loyal customers in the best possible way across the GCC region. Together with Tanishq, we are happy to provide more variety and premium quality jewellery specifically in the 22 karat category to our Indian clientele.”

C.K. Venkataraman, CEO - Jewellery Division, Titan Company Ltd, added: “Damas is a leading international brand with more than 100 years’ experience in the jewellery

industry. With its intrinsic Arabic heritage, the brand brings along invaluable local trade expertise within the GCC market, making it the perfect partner to launch our reputed jewellery brand Tanishq in the region.”

Damas has a large portfolio of renowned global luxury brands including Graff Diamonds, Garrard, Roberto Coin, Mikimoto, Paspaley, Forevermark, Theo Fennell, Parmigiani Fluerier, and Girard Perregaux, Perrelet, Magerit among others. The company operates around 300 outlets distributed across 11 countries.

C.K. Venkataraman (left) and Anan Fakhreddin at the launch event.

Tanishq has signed an agreement with Middle Eastern jewellery and watch retailer Damas to showcase its jewellery collections

at select Damas stores across the Gulf Cooperation Council (GCC) countries.

Anan Fakhreddin, CEO of Damas, said: “At Damas,


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Dr. Seema Shah To Head IIGJ Mumbai

Blue Nile Mobile App Adds Augmented Reality Feature

The India Institute of Gems & Jewellery (IIGJ) appointed Dr. Seema Shah as the head of IIGJ Mumbai after Col. S.K. Arora stepped down due to health reasons. Dr. Seema Shah, who assumed office from September 22, previously worked as a consultant, and was the former principal (in-charge) at Vidyalankar Institute of Technology.

Online retailer Blue Nile launched its new mobile shopping app, which now includes augmented reality on the app’s “Dream Box” feature, allowing consumers to virtually “try on” a Blue Nile engagement ring from an iPhone.

The Dream Box contains thousands of one-of-a-kind rings created by Blue Nile’s expert jewellery craftsmen. For the first time, users can snap a photo of their hand, and virtually try on the ring, and share it through Facebook, Twitter, text, or email as a subtle hint to that special someone.

“Shopping for an engagement ring online is already superior in terms of selection, quality and value, and now consumers can see what the ring looks like on their finger right from their phone,” said Blue Nile president, CEO and chairman Harvey Kanter. “When paired with the world’s largest selection of certified diamonds and the ability to make comparisons against brick and mortar stores in real time, the new app empowers today’s connected consumer like never before.”

Shah has 24 years of teaching experience in the software industry. She has also authored books for Oxford University Press, Vipul Publications and Reliable Publications.

Shah said, “India is now recognised as a global leader in the gem and jewellery industry and it is essential that we nurture young talented minds to take this industry to

the next level. It is our endeavour to provide advanced knowledge and professionalism in the field of gem and jewellery.”

The IIGJ is the only full-fledged institute that offers courses in all aspects of jewellery design and manufacturing. The faculty comprises professional designers, technicians, craftsmen and educationalists.

Varuna D. Jani designed the award trophies for the recently concluded 16th edition of the Mumbai Film Festival organised by the Mumbai Academy of the Moving Image (MAMI).

MAMI trophies are sought-after and are treasured for a lifetime as they depict the artist’s contribution to Indian cinema. Varuna created a crystal trophy adorned with a silver-plated

Varuna D. Jani Designs The New MAMI Trophy phoenix, the emblem of MAMI. Each trophy carries her brand's logo and is flanked by two real diamond drops.

Jani commented, “It is an honour and a privilege to have received this opportunity to design the prestigious MAMI trophy. I was very excited and inspired to create and design the trophy. I hope I have imbibed in it

the pride and the prestige that is associated with this magnificent festival.”

Srinivassan Narayan, festival director, Mumbai Film Festival, said, “We thank Varuna D. Jani for her support towards the Mumbai Film Festival. That a designer of her calibre has agreed to design our award trophies is a matter of pride. The final trophy is spectacular, as is the design input by her.”


The Antwerp World Diamond Centre (AWDC) signed several memorandums of understanding (MoUs) with the Shanghai Diamond Exchange (SDE) to improve cooperation between the two trading centres, while celebrating 30 years of trade ties. The mission concluded with a ‘Diamond Night’, where the participating Antwerp diamond traders got the chance to meet their Chinese counterparts.

“China is the fastest growing market for diamonds,” said Margaux Donckier, spokeswoman for the AWDC. “A good relationship with the SDE is therefore of great importance for the Antwerp diamond sector.”

Last year, Antwerp exported 1.8 million carats of polished diamonds to China and Hong Kong, with a value of $3.7 billion. The growing popularity of diamonds in China has helped boost the overall Chinese jewellery market. According to experts, the Chinese jewellery market will be worth more than $100 billion by 2015, which would bring China to the same level as the US by 2020.

The AWDC also organised a fashion show in Shanghai. Antwerp fashion designers Ann Demeulemeester, Haider Ackermann and Jean-Paul Lespagnard showcased a number of unique pieces which were paired with diamond jewellery from Antwerp-based Casa Gi.

Signet Jewelers Limited announced that Michael Barnes has resigned from his position as chief executive officer and from Signet’s board of directors, effective October 31, 2014, and Mark Light, currently Signet’s president and chief operating officer, will

Antwerp & Shanghai Commemorate 30 Years Of Strong Ties

Mark Light To Replace Michael Barnes As Signet’s CEO

Silk Road Diamonds, sponsor of the Antwerp Diamond Night, stated, “This mission personifies everything we stand for as a Belgian-Chinese company: establishing a link between Antwerp and China, just like the Silk Road connected the East and the West ages ago. We are honoured to have sponsored this event.”

Officials from AWDC and the Shanghai Diamond Exchange occupy the front row of a fashion show organised by AWDC in Shanghai.

Michael Barnes

and the board of directors is confident that Mark is the right person to lead the company forward as Signet enhances its position as a leading retailer in the US, UK and Canada.”

Commenting on Barnes’ resignation, Stitzer added, “Since he joined Signet in 2010, Mike has been an instrumental part of Signet’s success. We understand and respect his personal desire to relocate nearer to his family and pursue opportunities closer to his home in Dallas at this time. On behalf of Signet, I thank Mike for his many contributions to Signet and wish him well in his future endeavours.”

Mark Light, reaffirmed the company’s financial

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succeed Barnes. Mark Light will also join Signet’s board of directors.

Todd Stitzer, chairman said, “Mark is an experienced, strategic leader who has been deeply involved in the company’s Vision 2020 Strategy, the Zale acquisition and its ongoing integration. In addition, he has a meticulous approach to operational details, and has been the main architect of our Sterling division’s consistently profitable growth and has played a key role in defining and executing Signet’s growth strategy. These valuable attributes have been developed during his long and successful career of over 30 years with Signet,

vision: “I am extremely pleased with the progress we are making integrating the Zale division, and I remain confident that we will achieve our 3-year synergy expectations of $150 million to $175 million. More broadly, I’m honoured to take the helm of this enterprise to move Signet forward as a leader in the retail jewellery industry, bringing greater innovation in products, store concepts, customer service and marketing as we continue to grow our market share. Our strategic planning, operational excellence, and superior collaboration executed by our industry-leading teams, will continue to drive our success into the future.”


The National Retail Federation (NRF) USA, expects sales in November and December (excluding autos, petrol and restaurant sales) to grow 4.1% to $616.9 billion, higher than 2013’s 3.1% increase during the same time frame. Holiday sales on average have grown 2.9% over the past 10 years. This would mark the first time since 2011 that holiday sales would increase more than 4%.

“Retailers could see a welcome boost in holiday shopping, giving some companies the shot in the arm they need after a volatile first half of the year and an uneventful summer,” said NRF president and CEO Matthew Shay. “While expectations for sales growth are upbeat, it goes without saying there still remains some

NRF Predicts 4.1% Holiday Season Sales Growth; Jewellery High On Wish Lists

World Diamond Council Appoints Patricia Syvrud As Executive Director

indicated that self-gifting will decrease this year as shoppers opt to shift their budgets towards spending on others. Notably, one-quarter (24.8%) said they’d like to receive jewellery, up from 23.3% last year.

“Retailers have plenty of reasons to be optimistic this holiday season, and one of the most important pieces of evidence is the confidence holiday shoppers are exuding in their plans to spend on gifts for their loved ones,” said Shay. “While not completely throwing caution to the wind, Americans’ frugal spending habits will still be visible this holiday season as they continue to rely on discounts and sales and comparison shop. Consumers will put retailers to the test when it comes to the product mix and value companies can offer today’s

uneasiness and anxiety among consumers when it comes to their purchase decisions. The lagging economic recovery, though improving, is still top of mind for many Americans.”

While consumer confidence has been unstable during the year, improvements over the past few months in key economic indicators will give way to increased spending power among holiday shoppers. Retail sales, jobs and housing data all point to healthy gains.

NRF’s Holiday Consumer Spending survey conducted by Prosper Insights & Analytics found the average person celebrating Christmas, Kwanza and/or Hanukah will spend $804.42, up nearly 5% over last year’s actual $767.27.

The survey, which polled 7,547 consumers, also

shopper who is focused on much more than just price.”

Also, 56% plan to shop online, up from 51.5% last year and the most in the survey’s 13-year history. Shop.org too predicted that online holiday sales will grow between 8-11% over last holiday season to as much as $105 billion. The potential growth will also lead to an increase in seasonal employment stated the NRF.

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The World Diamond Council (WDC) has named Patricia Syvrud, founder and president of Joia Consulting, LLC, as its first executive director, effective October 31, 2014.

Syvrud will report to the executive committee of the WDC board of directors and will assist the president of the WDC. She will be responsible for representing the WDC in the Kimberley Process, as well as providing overall leadership and strategic direction to the organisation.

The WDC board appointed a screening committee that reviewed a large number of applications for the executive director position from around the world. Interest in the

position was high, and the WDC board was pleased and appreciative of the interest from so many high level applicants.

“The important work of the WDC was reflected in the calibre of the applicants for the executive director position,” stated Edward Asscher, president of the WDC. “Patricia’s breadth and depth of knowledge of the jewelry industry, as well as her previous experience in working with non-profit and international organisations make her an obvious choice in this new position for the WDC. The entire board sees this appointment as further professionalising the WDC and looks forward to working with her to continue to enhance the credibility and stature of the WDC in the international arena.”

The primary objective of the WDC is to represent the diamond industry in the development and implementation of the regulatory and voluntary systems to control the trade in diamonds embargoed by the United Nations or covered by the Kimberley Process Certification Scheme.

Patricia Syvrud, WDC’s newly appointed executive director.


SA Mining Minister To Keynote Zimbabwe Diamond Conference

A t the second Zimbabwe Diamond Conference set to take place this month, South Africa’s minister of mineral

resources Ngoako Ramatlhodi will speak about the huge contribution of mining to the economies and societies of South Africa and Zimbabwe and the need to responsibly manage resources. Ramatlhodi will be a keynote speaker at the event, along with mining ministers from other African diamond producing states and global diamond industry leaders.

Organised by Zimbabwe’s ministry of mines and mining development in the capital Harare on November 6-7,

the conference will focus on the theme: ‘Completing Zimbabwe’s Diamond Potential for the Future’.

In his letter of acceptance following his invitation to speak at the conference, Ramatlhodi said: “Both South Africa and Zimbabwe are richly endowed with not only diamonds, but also other mineral and metal resources. It is my considered view that the immense contribution of mining to our respective economies and societies needs to be acknowledged. Mining brings employment, government revenues and opportunities for growth and diversification.

“Our government’s position is that it is necessary to implement a sustainable

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Aerial view on the main street in Harare.

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development policy approach to the development and implementation of mining and mineral policies which takes into account economic, social and environmental considerations. Thus we need to enhance the mutual economic and social progress that is derived from the responsible management of mineral resources.” He added that he would share with conference attendees South Africa’s experience in the development of the global diamond industry.

The second Zimbabwe Diamond Conference will present the progress made by the country’s diamond industry following its admission as a member of the Kimberley Process Certification Scheme in 2011. The inaugural Zimbabwe Diamond Conference took place at Victoria Falls in November 2012. The importance to the global diamond industry of the developing Zimbabwe diamond trade is shown by the planned attendance of leading African mines ministers and diamond industry leaders.

“Ramatlhodi’s letter shows the depth of knowledge and experience that our speakers will be bringing to this very important conference,” said Prof. Francis Gudyanga, permanent secretary at Zimbabwe’s ministry of mines and mining development. “Our aim is to explain to attendees as well as to the wider global diamond business the challenges that we

face in mining our valuable minerals, as well as the opportunities that this presents.

“How we can introduce modern exploration techniques for the benefit of our people is a major issue that we want to discuss. Major mining companies will see that Zimbabwe’s diamond potential is huge, and working with us can be beneficial to them as well as to our government in bringing about national development,” Gudyanga added.

Among the highlights of the conference will be three panel discussions. The debates will cover Zimbabwe’s diamond mining industry and exports, beneficiation of the country’s diamonds, and responsible mineral supply chains and the Kimberley Process.

The first panel discussion is entitled ‘From Zimbabwean Mines To The World’. It will feature Dr. Robert Mhlanga, chairman Mbada Diamonds (Private) Ltd; Farai Mutamangira, legal advisor, ministry of mines and mining development of Zimbabwe; and Mark Van Bockstael, chairman of the Working Group on Diamond Experts (WGDE).

Meanwhile, the second panel is called ‘Diamonds: Engine Of Local Beneficiation’. The panel members are Abbey Chikane, the first chair of the Kimberley Process; Richard Mvududu, chairperson, Diamond Beneficiation Association of Zimbabwe; Christine Gordon, former UN panel

expert on Angola; Prof. Francis Gudyanga, permanent secretary, ministry of mines and mining development of Zimbabwe; Shamiso Mtisi, KP Civil Society Coalition representative in Zimbabwe; and Tafadzwa Musarara, Resources Exploitation Watch.

On the second day of the conference, there will be a panel debate on the subject of ‘Complementarities Between The OECD Due Diligence For Responsible Mineral Supply Chains And the KPCS’. Panel members are Sabyasachi Ray, executive director of the GJEPC; Paulo M’Vika, chairman, Working Group of Artisanal and Alluvial Producers (WGAAP); Peter Meeus, chairman of the Dubai Diamond Exchange; Tyler Gillard, legal expert, OECD Investment Division; Kennedy Hamutenya, diamond commissioner, Republic of Namibia; and Levy Rapoo, CEO, South African Diamonds and Precious Metals Regulator. All sessions will be moderated by diamond industry expert Chaim Even-Zohar.

African ministers who have confirmed they will take part in the conference include: Isak Katali, minister of mines and energy of the Republic of Namibia; Martin Kabwelulu Labilo, minister of mining of the Democratic Republic of Congo; and Bernardo Campos, from Angola, vice chair of the Kimberley Process. The conference will be hosted by Zimbabwe’s minister of mines and mining development, Walter K. Chidakwa, who will address the audience on behalf of his government.

In addition, top diamond industry leaders from around the world will deliver keynote speeches at the conference. They include Eli Izhakoff, honorary president of the WDC, the World Federation of Diamond Bourses (WFDB) and CIBJO; Ernie Blom, president of the WFDB; and Gaetano Cavalieri, president of CIBJO. Representatives of leading diamond trading companies, manufacturers, financiers and jewellers will also take part in the conference. Among the other global figures taking part are Ahmed Bin Sulayem, executive chairman, DMCC; Reuven Kaufman, president, Diamond Dealers’ Club of New York; and Lin Qiang, president, Shanghai Diamond Exchange. n

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rio tinto’s q3 diamond output slips 15% to 3.54 mn cts · licence will be granted as of january...

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