ABN Amro Bank recently sent a letter to several of its diamond clients stating that it would be limiting finance for rough purchases… "in view of the continued lack of profitability in the purchase of rough goods. We recommend you to show constraint and only consider purchasing rough when there is sufficient profitability. We want our clients to ...
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The issue of creating a mechanism for the valuation of diamonds produced by artisanal and other miners in Africa in order to provide them with fair value for their stones was one of the major debates that took place at during the KP Plenary meeting in Dubai last week — and rightly so. The KP Chair and his team have been working hard on this issue during 2016, inviting a wide range of industry experts to meetings on the subject.
Last Tuesday, Russell Mehta, one of the leaders of the Indian and the world diamond industry, published an excellent blog ‘Collective Leadership: Crisis of The Hour For The Diamond Industry’, in which he singled out the lack of collective leadership in tackling the big issues as the biggest problem facing us all today.