De Beers invests $5m to expand Surat diamond grading unit (Times of India – December 6, 2016)

SURAT: De Beers, a member of the Anglo American group, today said it has invested US $5 million in expansion of its diamond grading and testing centre at Surat in Gujarat.

The move follows the Group’s initial investment of US $10 million in 2015, to establish the facility, which has the capacity to process over US $500 million of diamonds annually.

The facility represents a world-leading resource for India’s diamond cutting and polishing sector, providing polished diamond grading services, diamond verification services and melee (small diamond) testing and screening, International Institute of Diamond Grading & Research (IIDGR) President Jonathan Kendall told reporters here.

The company is expecting to launch the Melee Testing Service and a new Melee Grading Service next year, he added. De Beers, world’s leading rough diamond suppliers hopes to invest more in India as it sees India and China as strong markets, Kendall said.

“From cutting and polishing rough diamonds to consumer demand for diamond jewellery, India is vital to the diamond industry and the industry is vital to India. Through the IIDGR, De Beers Group is investing in innovations to ensure India maintains its position as a global diamond hub,” Kendall said.

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