Tuesday 28 September 2021

Officials Face Fraud Charges over Missing Diamonds

 

A diamond held by dop is polished on rotating automatic cast iron lap

Four government officials have been arrested in South Africa, following the disappearance of rough gems bought for a diamond cutting course.

The suspects, all employees at the Department of Economic Development and Tourism, were detained last Wednesday by the Hawks, the force that specializes in corruption and economic crime. They all face fraud charges.
Back in 2010 the European Union donated over $440,000 to fund a mining qualification course –  which included cutting and polishing – for 40 students at the Kimberley Diamonds International Jewellery Academy (KIDJA), Northern Cape.
In July 2021 a random audit inspection discovered that rough gems bought for training purposes had disappeared.
They were reportedly purchased from a private entity without the necessary licenses.
Four suspects, aged 47 to 66, are due to appear at Kimberley Magistrates’ Court.

Source: DCLA

Officials Face Fraud Charges over Missing Diamonds

 

A diamond held by dop is polished on rotating automatic cast iron lap

Four government officials have been arrested in South Africa, following the disappearance of rough gems bought for a diamond cutting course.

The suspects, all employees at the Department of Economic Development and Tourism, were detained last Wednesday by the Hawks, the force that specializes in corruption and economic crime. They all face fraud charges.
Back in 2010 the European Union donated over $440,000 to fund a mining qualification course –  which included cutting and polishing – for 40 students at the Kimberley Diamonds International Jewellery Academy (KIDJA), Northern Cape.
In July 2021 a random audit inspection discovered that rough gems bought for training purposes had disappeared.
They were reportedly purchased from a private entity without the necessary licenses.
Four suspects, aged 47 to 66, are due to appear at Kimberley Magistrates’ Court.

Source: DCLA

Monday 27 September 2021

Belgian Lab Detects Diamond with Fake Inscription


  
       The diamond bearing the fake GIA inscription.

HRD Antwerp recently discovered a fake inscription on a polished diamond the lab had received for grading.

The 1.50-carat stone had a Gemological Institute of America (GIA) laser inscription corresponding to a natural grading report, HRD said Monday. The accompanying report listed the diamond as natural, with no color treatments. The stone was further identified as type IIa, meaning it contained virtually no elements other than carbon. However, during testing, the Antwerp lab found that the diamond had undergone High Pressure-High Temperature (HPHT) color treatment.

Although the diamond’s carat weight, color and cut precisely matched the GIA report, HRD noticed inconsistencies with clarity characteristics that were quite similar to those listed in the certification and could easily be mistaken during a standard loupe inspection, it explained.

“Detailed microscopic investigation by an experienced grader revealed that this was not the same diamond described in the report,” HRD said. “The clarity characteristics did not completely overlap. Since these characteristics are a unique fingerprint of the diamond, the inscription was conclusively identified as false. The diamond at hand had been intentionally inscribed with a fake laser inscription to deceive the customer.”

Correction: The story has been updated to clarify what was disclosed in the report and the findings of HRD.

Source: DCLA

Belgian Lab Detects Diamond with Fake Inscription


  
       The diamond bearing the fake GIA inscription.

HRD Antwerp recently discovered a fake inscription on a polished diamond the lab had received for grading.

The 1.50-carat stone had a Gemological Institute of America (GIA) laser inscription corresponding to a natural grading report, HRD said Monday. The accompanying report listed the diamond as natural, with no color treatments. The stone was further identified as type IIa, meaning it contained virtually no elements other than carbon. However, during testing, the Antwerp lab found that the diamond had undergone High Pressure-High Temperature (HPHT) color treatment.

Although the diamond’s carat weight, color and cut precisely matched the GIA report, HRD noticed inconsistencies with clarity characteristics that were quite similar to those listed in the certification and could easily be mistaken during a standard loupe inspection, it explained.

“Detailed microscopic investigation by an experienced grader revealed that this was not the same diamond described in the report,” HRD said. “The clarity characteristics did not completely overlap. Since these characteristics are a unique fingerprint of the diamond, the inscription was conclusively identified as false. The diamond at hand had been intentionally inscribed with a fake laser inscription to deceive the customer.”

Correction: The story has been updated to clarify what was disclosed in the report and the findings of HRD.

Source: DCLA

Sunday 19 September 2021

Watch and Jewellery Valuations

 

Connecting Jewellers and Valuers with Customers


AcuVal is a platform that provides an easy way of building up a valuation for a jewellery item and providing a printable certificate. Create and manage valuations and valuation certificates.

Making it easy, fast and cost-effective, to create accurate valuation certificates, by jewellers and valuers for their customers. 


Watch and Jewellery Valuations

 

Connecting Jewellers and Valuers with Customers


AcuVal is a platform that provides an easy way of building up a valuation for a jewellery item and providing a printable certificate. Create and manage valuations and valuation certificates.

Making it easy, fast and cost-effective, to create accurate valuation certificates, by jewellers and valuers for their customers. 


Kimberley Process to Hold Hybrid Plenary Meeting

 

Kimberley Process Rough diamonds. 

The annual Kimberley Process (KP) plenary will take place online and in person from November 8 to 12, with the digitization of certificates featuring at the top of the agenda.

The hybrid format enables the KP to continue its activities despite the restrictions resulting from the coronavirus pandemic, Russia’s Finance Ministry, which is chairing the organization this year, said last week. Those eligible to visit Moscow under Covid-19 rules will be able to attend the physical event.

The meeting will focus on modernizing the KP export and import documents for rough diamonds. The ministry is currently finalizing a pilot program involving an information exchange with one of Russia’s key trading partners and plans to present its findings soon, it said.

The KP will also consider the applications of new countries wishing to join the group, having paused this due to travel difficulties. Since the easing of the situation, the KP has organized missions to Qatar and Kyrgyz Republic, and plans to do the same in Mozambique. The chairmanship and the committee that handles applications for participation in the KP will consider the reports emanating from those visits.

The Central African Republic (CAR) will also be on the agenda, with the KP planning to send an expert mission to the country to evaluate its compliance with rules aimed at preventing the export of conflict diamonds. In addition, the KP will select a new vice chair for 2022, with that country taking over as chair in 2023 from Botswana, which is slated to take the helm next year.

Meanwhile, Russia will work with KP partners to reach a consensus on the location of a future permanent KP secretariat to help streamline the organization’s work.

The KP canceled the 2020 plenary and intersessional meetings because of the pandemic. However, the 2021 intersessional took place in June, focusing on topics including digitization and human rights.

Source: DCLA

Petra Sales Up, Prices Down

Petra Diamonds Operations Petra Diamonds reported increased sales for FY 2024, despite weak market conditions. The UK based miner said it ha...