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Lucara eyes future expansion as it boasts of strong cash position

With a net cash position of $144.3 million at the end of the first quarter of 2016, Lucara Diamond, which operates the Karowe Mine in Botswana, says it intends to invest the cash and increase the size of the company either through a merger, acquisitions...

20 june 2016

Ban on rough tanzanite export chocking outside industries

Tanzania said that its ban of rough tanzanite over 5 carats has helped frustrate foreign companies that were relying on supplies from the country. The country’s acting commissioner for minerals Ally Samaje told Rough & Polished on the sidelines of...

14 june 2016

‘Diamond prices have remarkable ability to recover considerably faster after a crisis than other product categories,’ observes Etan Müller, CEO DFI

Etan M. Müller, CEO and Partner- DFI, has more than 25 years of experience in the financial industry. Before setting up DFI Switzerland AG, Etan Müller worked for 12 years in the private banking sector as a senior investment advisor for Ultra High Net...

06 june 2016

World Diamond Congress debates reflected widespread challenges, says WFDB President Ernie Blom

The 37th World Diamond Congress in Dubai carried to completion on May 19, 2016 zoomed in on the most challenging issues facing the global diamond industry with a special focus on transparency, responsibility and sustainability. The World Federation of...

30 may 2016

Nurit Rothmann: Gradually Breaking Down Industry Barriers

Diamantaire Nurit Rothmann has been working in the diamond industry for the past two decades. Starting out in polished goods, but in the past 15 years working in rough goods, she is optimistic about the future, saying the global diamond industry has...

23 may 2016

Investigation of diamond fraud in Belgium

06 august 2013

Antwerp authorities recently announced a breakthrough in the investigation of a tiger kidnapping that took place on October 11, 2012 in Antwerp. At that time, three men entered the home of an employee of the Indian diamond company KIRAN BVBA. While the man's wife was kept hostage, he was forced to return to work and empty the vaults of the KIRAN offices in the Hoveniersstraat in the Antwerp diamond district. The total value of the stolen diamonds was estimated at $13 million.
Police investigations now indicate the tiger kidnapping could be staged by the alleged victim, the employee of KIRAN. The authorities believe the man was aided by a middle-man of Indian origin, who in turn hired an Armenian accomplice to execute the tiger kidnapping. The Armenian accomplice collaborated with two Chechen men.
Between July 22 and 29,  five people were arrested in connection with their alleged involvement in the case, the prime suspect - an employee at KIRAN, a man of Indian origin and three plan executors, an Armenian and two Chechens.
Four of them are in custody and are said to have confessed to involvement in the case.
The alleged middle-man of Indian origin was arrested at the Dutch airport Schiphol on July 30. Procedures to extradite the man to Belgium are currently ongoing.
Most of the stolen goods, estimated at a value of $8.7 million, were recovered during a recent raid in Antwerp.

Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished

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