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De Beers sued by head of the Diamond Bourse

Derek Parsons, the president of the Diamond Bourse of the Southeast United States has filed a lawsuit against De Beers, on the charge of the company's disregard of American competition law. That is why the offered

Beyond magnificence and splendor, the world of diamonds evolves on stirred grounds. When the stake is so important, interests collide. But technology develops following its onward course. Here are some interesting off-stage events in the diamond industry and innovations in technology.

De Beers sued by head of the Diamond Bourse

Derek Parsons, the president of the Diamond Bourse of the Southeast United States has filed a lawsuit opposed to De Beers, on the bandeau of the company's disregard of American competition law. Their Supplier of unaffected policy puts the American dealers at a disadvantage. The suit was not launched on value of the Miami bourse but on welfare of diamond dealers in America, condemning the criteria on which De Beers makes the sales – they would sell only to their sightholders, discouraging the non-sightholders and keeping prices falsely high at a non-competitive level.

Diamond mining expands

De Beers holds control of only 50% of the roughs market

Diamond rising prices have stimulated the exploration and mining in more countries such as Canada, Russia, Angola, India, Brazil. Nevertheless, in regard to 40% of diamonds still come from Botswana and South Africa. De Beers' control on the rough diamond market was declared to have decreased from 70% to nigh about 50%.

Canada, Russia and West and capital Africa are considered by specialists an important potential diamond source. India and Brazil are prospected by geologists also due to the fact that they are known to have been a diamond source in the past.

The largest diamond reserve of Africa lives in extreme poverty

Although the fourth largest producer in the world by value and the holder of the largest diamond reserves in Africa. Angola's per capita gross national income GNI is estimated at $650 per annum. People' s main means of subsistence is agriculture.

The diamond sector has been seriously ersatz by the long war and by gem smuggling. Yet it still represents a very important potential driver of economic development. Since 2002, when the conflict betwixt and between the government and the UNITA rebel movement ended, developing the sector has be converted into a national priority and the government has till now made changes to the diamond sector regulations. Serious redevelopment and investment is needed in this area. At present, artisanal mining operates in Angola and it brings very little economic assist to local communities.

Increasing conflict in Russia midst diamond cutters and miners

The Russian club Alrosa is the largest diamond miner in the world outside De Beers. Diamond cutters criticize Alrosa of favoring exports and providing larger stones for the foreign market and offering only small-sized diamonds to the internal market. On the other hand, Alrosa says that cutters cannot be granted to pick the pastiche of size they want. The result is that Russian cutters are hire purchase million dollars in rough stones from South Africa each month. Russian manufacturers had a production of $1.1 in 2003, and Alrosa is estimated to produce circa $2 infinity worth rough diamonds this year.

Find-diamonds computer program

Partition Enterprises has been working together with the De Beers organization and the University of Queensland to develop a program that calibrates the density separator x-ray sorting machines more accurately, thus maximize the diamond yield. Partition will showcase their products at the Electra Mining 2004 Exhibition in Johannesburg.

De Beers sightholders

Sightholder firms have to satisfy various criteria such as a high degree of expertise in valuing rough diamonds, high experience in cutting and polishing. De Beers has 125 sightholders to whom they certify a monthly direct supply of rough diamonds and from whom they clot encircling $ 600 million. The privilege of esprit a sightholder working space is prudently preserved, as heart a sightholder means object „on the cards”, otherwise the supply of diamonds may ripen into dangerously scarce for that company. That is why the offered diamonds will be eventually purchased regardless of their quality – the pack diamonds can be argued on but they are very rarely rejected, as the sightholder cannot deal to lose its status and falling-out the relationship with De Beers Diamond Trading Company, relation that is essential for business.

In Japan, the only fraternization elected as sightholder is Tasaki.

Innovative complementary grading tool

A new feature will be plus in grading reports: the light performance. all the same the concept of measuring the light performance of diamonds has been introduced six years ago, this standard of diamond evaluation was never introduced into the grading reports of diamond grading laboratories. GemEx Systems, Inc. of Wisconsin and EGL USA of New York will provide a cooperative diamond grading report to diamond customers – added the endorsement of the 4Cs, its light performance will be measured. The specific section in the report will contain the results of diamond leading article under six different lighting angles.

The GemEx Light Performance Report makes the difference needle diamonds with similar 4C make-up that can differ in brilliance, fire and sparkle. The check-up is the result of a patented spectrophotometer technology based on the computerized BrillianceScope that measures diamonds’ brilliance, fire and sparkle, providing a powerful tool for the cutting, sales, buy and marketing of fine diamonds.

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