JOHANNESBURG (miningweekly.com) – The global diamond industry is either growing in affluent regions or remaining steady in less affluent ones, thereby reflecting a degree of positivity, as well as signs of growth.
This also points to untapped potential that is ready to be unlocked through increased investment upstream and downstream, says diamond industry integrity organisation World Federation of Diamond Bourses (WFDB) president Ernie Blom.
Driven by demand from the international market for luxurious large-stone diamond jewellery, a significant degree of this untapped market potential to beneficiate (cut and polish) diamonds has been unlocked by a rapidly expanding and thriving trading environment in Dubai with the launch of a high-tech, diamond- polishing factory.
Dubai-based diamond trading company Nemesis International announced the opening of its diamond polishing factory – Almas Diamond Services – during the 2017 Dubai Diamond Conference, held in October. The conference was hosted by the Dubai Multi Commodities Centre (DMCC), which has a diamond-specific platform called the Dubai Diamond Exchange.
Almas Diamond Services is a partnership with Angolan national diamond trading company Sodiam, which, in turn, is a subsidiary of Angola-based State-owned diamond prospecting, mining, trading and polishing company Endiama.