Heera Zhaveraat | April 2018 by heerazhaveraat

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EXCELLENCE IN INDUSTRY

The early 1970s saw the price of large, 2carat-plus diamonds increasing by stunning leaps of between 20 and 30 per cent per annum, while even the quarter caraters showed price increases of between 5 and 8 per cent. The world was seeing its irst “investment diamond” boom. Rough diamond resellers in Antwerp made killings of up to 50 per cent premiums without even opening their Sight boxes. T h e b a n k ru p tc i e s i n o t h e r d i a m o n d processing centres allowed the Indian industry to move upwards in the size and quality of diamonds it manufactured as it had the inancial strength to take in the slack left by the inancial failures. More organised manufacturing and the large-scale implementation of semi-automatic technology also meant that Indian manufacturing quality and yields had improved signi icantly.

formation of the Organization of Petroleum Exporting Countries (OPEC) suddenly imparted a shock to fuel prices. Meanwhile, the consumer boom in the US had pushed polished diamond prices up beyond in lation levels. With a stock market that was unable to keep pace with this rapid increase in value, it was but natural that consumers began to look at diamonds as an investment category.

Trade Fair Boosts Economy. The show renamed the India International Jewellery Show (IIJS) the IIJS is among the world's four largest gem and jewellery industry trade shows. And Bharat Diamond Bourse, Granted World federation of Diamond Bourses WFDB membership It also built up consumer valuations of diamonds in India. De Beers followed this up with three other brands — Sangini, which built on the idea of a mature partnership between a man and a woman with the imagery of a life mate who has stayed through thick and thin; Asmi, which targeted the self-

purchase market for successful professional Indian women andArisia, which showcased the large, solitaire diamond in the traditional format as a vehicle that transmitted value through time.

Realising that it now needs to make the transformation to an industry that is fully i n t e g ra t e d f ro m d i a m o n d m i n e t o consumer market, the GJEPC has now embarked on a drive to establish the “Make In India” label as something that is synonymous with quality and design leadership. This need to establish the country's design and quality credentials over its already irmly established manufacturing process is the driving force behind the India International Jewellery Week. Just as the Milan Fashion Week is designed to underscore the prominence of Italian design, so the IIJW is showcase for the Indian industry's abilities to not only manufacture quality product, but to also drive consumer demand through design innovation and product development that is tailored to the dreams and aspirations of today's global consumer. 

CREATIVE CHARISMA

It's a matter of great pride for us at PGI to be associated with PlatAfrica which nurtures and develops talent in the field of platinum jewellery designing. I would like to congratulate all the winners for their creativity and innovative designs in platinum. This initiative is an opportunity to bring in new ideas and enrich platinum designing in India. Vaishali Banerjee MD Platinum Guild International

Bold minimalism takes center stage at

PlatAfrica 2017

latinum Guild International (PGI) India is proud to present the winning designs of PlatAfrica 2017 - a jewellery design and manufacturing competition. Presented by the world's leading producer of the precious metal Anglo American Platinum, in association with PGI India and Metal Concentrators, the prestigious competition is open to student, apprentice and professional jewellers in South Africa to promote innovation and technical expertise in the design of platinum jewellery. Speaking on the occasion, Vaishali Banerjee, MD Platinum Guild International said, “It's a matter of great pride for us at PGI to be associated with PlatAfrica which nurtures and develops talent in the field of platinum jewellery designing. I would like to congratulate all the winners for their creativity and innovative designs in platinum. This initiative is an opportunity to bring in new ideas and enrich platinum designing in India.” The theme of the competition was “Bold Minimalism” which aimed at Indian millennials. Masters of self-expression this generation seek designs which are understated yet distinctive. They look for a modern take on tradition and do not shy away from experimenting. Bharat Diamond Week | April - 2018 | HZ | 100

CREATIVE CHARISMA Purity Assurance Program: In order to assure consumers of the purity of platinum jewellery, Platinum Guild India Pvt. Ltd. Has appointed Trust Ever Assurance Services LLP to audit and monitor its Quality Assurance Scheme. Under this scheme, all authentic platinum jewellery in India comes with a Quality Assurance Card and bears the purity mark of “Pt 950” stamped inside the piece. This also serves as an assurance of a ‘buy back’ programme.

Four design hooks were selected to allow designers to explore the properties of platinum to create statement pieces for

The Indian Millennials: 1: New sculptural: artful, bold and assertive, multi-dimensional design. 2: Linear constellations: complex lines of metal that break the monotony and highlight the strength of platinum. 3: Asymmetrical silhouettes: simplistic yet substantial revelling in a break with tradition – off centre, unexpected. 4: Beyond deco: clean lines, multi-faceted angles a reflection of the future. The winning designs at PlatAfrica 2017 had a modern and contemporary style, with a strong influence of the Indian cultural. Each piece used the finest attributes of the metal Platinum to bring out the beauty in the design. The winning pieces eloquently captured the essence of the bold minimalism theme which is “less is more”.

Taking the first place were: 3 at, Four design hooks

Anglo American Platinum: Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world’s leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make meaningful and sustainable difference in the development of the communities around its operations. Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world. As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.

1: Ms. Ulandie Jonas from the professional category with her piece themed 'The Family Bond' 2: Ms. Anke Van der Linden from the student's category place for her piece 'Undulation'

Runners up were: 1: Mr. Nihal Shah (2nd) from the professional category 2: Mr. Fraser Schenck (2nd) from the student's category. The judging panel was composed of Kirtikumar Devjee: Kirti Jewellers; Pallavi Sharma: Platinum Guild International, India; Charlotte Crosse: Metal Concentrators; and Thomas Kapo: Akapo Jewels. The panel was drawn from the jewellery trade, academia and design industry who brought their extensive knowledge, enthusiasm and expertise to the process. The jewellery pieces were scored on five criteria - theme, design, originality, wear-ability and workmanship. The top winning designs included beautiful crafted platinum pieces like neckpieces, pendants, bracelets, and rings accented with concrete and precious stones with precious platinum. Based on their interpretation of the theme, every designer crafted the jewellery piece themselves that reflected their inspiration in crafting the masterpieces using Platinum. Sharing her views on PlatAfrica 2018, Kleantha Pillay, Head of Market Development, Precious Metals, at Anglo American Platinum Limited said, “PlatAfrica is in its 19th year and is South Africa's premier platinum jewellery competition. This year we again saw some exceptional design pieces that highlighted the unique properties of platinum. With PGI's encouragement and support, the winners got the opportunity to attend design workshops in Mumbai, developing their talent and broadening their horizons to think about designs for the global markets. We truly value this partnership with PGI which is now in its 2nd year.”

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CREATIVE CHARISMA

Here are the winning pieces from

PlatAfrica 2017 and the inspiration behind these pieces: The Family Bond By Ulandie Jonas: 1st in professional category The inspiration of the elegant neckpiece comes from the Indian tradition of the bridal mehndi ceremony that signifies the bond of marriage & family. The piece comes together beautifully to represent the bond of a couple, family, traditions in a simplistic yet subtle way. The structure of the neckpiece displays the strength of platinum in this intricate design. “To guide my design process, I kept in mind the statement “less is more” by an industrial designer describing minimalism. I decided to design a neckpiece for the modern Indian bride, keeping the traditional wedding in mind but giving it a modern twist. The Mehendi ceremony became the source of my inspiration, as it signifies the bond of marriage and family. The organic curved lines resemble the Mehendi and the two contracting colours represent the union of both the couple and their families. The polished platinum represents a modern take on traditions while the black represents old traditional ways. The pearl symbolises union, purity and love which is celebrated on one's wedding day.” The Family Bond By Ulandie Jonas

Indian Amulet By Nihal Shah : 2nd in the professional category The bracelet is a modern take of Indian amulet and the inspiration comes from the modern trend of men accessorising themselves with watches and bracelets. The element in the centre is a contemporary take on Lord Ganesha. In India Lord Ganesha is considered auspicious and symbolic of new beginnings and special occasions like weddings, birth of a new child, etc. Interestingly the elephant is also an integral part of the South African culture. This piece is remarkable representation of how two separate continents are bridged by this one icon. “Being a male Indian Millennial, I remain connected with my culture and traditions which brought about the idea to incorporate the current trends of the modern world with age-old traditions. I noticed a trend for men to wear their watches and bracelets side by side that sparked the idea to create a men's bracelet. This bracelet is a modern take on an Indian amulet. Indian Amulet By Nihal Shah

The element in the centre is a contemporary take on Lord Ganesha. Keeping the design hooks in mind, I created a sculpted feel of the Ganesha, where I was able to showcase the strength of platinum. I have also incorporated Rudraksh beads that offer protection to the wearer from negative energies. Additionally, the red base metal adds an antique feel and signifies sensuality and purity of the Indian community.”

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CREATIVE CHARISMA

Undulation Byanke Van Der Linden: 1st in student & apprentice category The inspiration for this 3 dimensional & double coiled ring comes from spiral earrings by AgataKrzyzanowska and the spiral shape roof of AudemarsPiguets headquarters in Switzerland. This lightweight sculptural ring will impress both the viewer and wearer at any occasion. “The bold minimalism and clean lines of modern architecture combined with curiosity and experimentation aided the development and design of my sculptural statement ring. My process began by piercing multiple slits into a long, thin sheet of metal and manipulating it to create a coiled three-dimensional form. To add extra dimension and emphasis, a smaller coil in an opposing direction was placed inside the larger coil. Combining these multi-dimensional coils is an elegant cross-over band. The statement ring when viewed from different angles creates an 'optical illusion'.”

Undulation Byanke Van Der Linden

Forgotten Triumphs By Fraser Schenck: 2nd in the Student & Apprentice Category The inspiration of the neckpiece Forgotten Triumphs comes from The Hall of Nation building that was constructed in 1972 as a part of an exhibition complex at Pragati Maidan in New Delhi. It stood as a landmark of Indian triumph and a symbol of India's independence. “The neckpiece pays homage to the Hall of Nations building and stands as a reminder to India's younger generation to not forget their heritage and the accomplishments of their fathers but to celebrate their legacy. The design of the neckpiece incorporates many features that was inspired by the building itself such as the use of triangles, negative spaced triangles and most importantly the use of concrete that refers to the concrete features of the building”. Forgotten Triumphs By Fraser Schenck

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IN THE LIME LIGHT

F O R E V E R M A R K HOSTS A LEADERSHIP PROGRAM FOR AUTHORIZED RETAILERS AT CAMBRIDGE UNIVERSITY

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Forevermark also hosted the contingent at the De Beers head office to gain various market insights, understand the scientific trends that will arise in the coming years and focus on the importance of the selection standards of Forevermark, a brand that itself epitomises beauty, rarity and responsible sourcing. Mr. Stephen Lussier, CEO, Forevermark also addressed the contingent and a special convocation ceremony was held for the participants. The retailers who attended the program included, A.S. Motiwala, Abaran Timeless Jewellery, Anmol Jewellers, C. Krishniah Chetty & Sons, Damas Jewellery, G. R. ThangaMaligai Jewellers, Indian Gems and Jewellery Creation, JoyAlukkas, Kays, Khandelwal Jewellers, Khurana Jewellery House, KirtilalKalidas Jewellers, NTS Navrattan Jewellers, P N Gadgil Jewellers, Rose andSenco Gold among others. This is what some of the attendees had to say about their experience: Mr. Nitin .M. Khandelwal, Chairman, All India Gems & Jewellery Trade Federation added, “The course was extremely Innovative which doesn’t just come by just giving education, it comes from creating environments where their ideas can connect. Innovation distinguishes between a leader and a follower. The topic was very interesting. In today’s scenario where market turbulence is high, leadership becomes a big challenge. We have certainly found ourselves in an era of disruption. Forevermark were gracious hosts and I will recommend this course to

IN THE LIME LIGHT

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TRADE NEWS

Forevermark hosts a leadership program A leadership program for authorized retailers at Cambridge University

orevermark, the diamond brand from The De Beers Group of Companies, recently organised a customised programme on ‘Leadership in the Disruptive Era’ at the Cambridge Judge Business School, the acclaimed business school of the University of Cambridge with 35 select leading partners. Working with the Cambridge Judge Business School, Forevermark adapted the program to open up the minds and build an enduring future for leaders in the industry. The aim of the course was to help them better manage and revolutionise their businesses in a dynamically growing disruptive economy by also teaching them about the value of consumer trust, transparency and ethics. The areas covered were Managing Family Business, Disruption, Teams – Creating Culture & Values, Ethics and Emotional Intelligence besides others. “We worked diligently with the executive coaching team of Cambridge University to design the course which would be relevant to the needs of our industry covering points like family business, integrity, team building etc. We wanted the participants to step out of the jewellery business and open their minds to a future that is widely unknown. We hope that with exposure to some of the world’s best academicians and stalwarts, the leaders of the industry would be future ready,” said Sachin Jain, President, Forevermark, on the occasion. Forevermark also hosted the contingent at the De Beers head office to gain various market insights, understand the scientific trends that will arise in the coming years and focus on the importance of the selection standards of Forevermark, a brand that itself epitomises beauty, rarity and responsible sourcing. Mr. Stephen Lussier, CEO, Forevermark also addressed the contingent and a special convocation ceremony was held for the participants. The retailers who attended the program included, A.S. Motiwala, Abaran Timeless Jewellery, Anmol Jewellers, C. Krishniah Chetty & Sons, Damas Jewellery, G. R. Thanga Maligai Jewellers, Indian Gems and Jewellery Creation, Joy Alukkas, Kays, Khandelwal Jewellers, Khurana Jewellery House, Kirtilal Kalidas Jewellers, NTS Navrattan Jewellers, P N Gadgil Jewellers, Rose and Senco Gold among others. This is what some of the attendees had to say about their experience: Mr. Nitin M. Khandelwal, Chairman, All India Gems & Jewellery Trade Federation added, “The course was extremely Innovative which doesn’t just come by just giving education, it comes from creating

environments where their ideas can connect. Innovation distinguishes between a leader and a follower. The topic was very interesting. In today ’s scenario where market turbulence is high, leadership becomes a big challenge. We have certainly found ourselves in an era of disruption. Forevermark were gracious hosts and I will recommend this course to everyone I meet in the industry. I will definitely use this fabulous experience in the Gems and Jewellery Industry. Last but not the least, I have received 3 life time achievement awards, however this session was a lifetime reward for me.” “Judge Business School is a beacon of opportunities and innovation set in the historical Cambridge University. For jewellers, like ourselves, to receive this opportunity to study at Cambridge and learn about the nuances of doing business in the maturing Indian market and disruptive leadership was an incredible experience. The course was conducted in a very simple yet organised way making the learning experience quite interactive and fun. The Forevermark team made sure that each one of us was comfortable and would benefit from the workshop. Apart from the classroom learning, there was so much learning all around when you are amongst the top notches in the trade. The best was sharing their pearls of wisdom, their insights and learning that all are sailing in the same boat. The workshop became a hub for jewellers to share their experiences, to network and brainstorm on solutions for individual and industry-wide problems. Our biggest takeaway was the realisation that in the coming decade it is not going to be business as usual. It is time to innovate, establish a digital presence, and create disruption. We are extremely grateful to Forevermark for inviting us to be a part of this learning experience. I would highly recommend such programs in future and would once again thank the team for giving us this chance. Forevermark is a

feather in our cap and we look forward to more such opportunities.” Said Prerna Khurana, Partner, Khurana Jewellery House. G. R. 'Anand' Ananthapadmanabhan, Managing Director, GRT Jewellers said, “The course was conducted professionally and was very relevant. It opened my eyes to both the warnings and opportunities in disruption. The trip was well arranged and all the details looked into. I have already recommended this program to colleagues and fellow jewellers. My key takeaways from the program were to be innovative, invest in employees, look out for opportunities on disruption and believe that disruption is an opportunity period. There was awesome bonding between fellow jewellers where we made new friends and learnt about different geographies from fellow jewellers.” Suvankar Sen, Executive Director, Senco Gold & Diamonds stated, “The course was very well planned. The Forevermark team understands the troubles faced by of today's jewellery industry, specially the business owners, and the course addressed these points to make industry more cohesive and stronger. One of the biggest learning from the course was that though we had all come from different parts of the country, we were all facing the same problems and if we work together, we can solve these issues. I hope Forevermark and De Beers continues to be the ‘big brother’ paving the way for the industry to ensure the jewellery business is sustainable.” Ishu Datwani, Founder, Anmol, “The course was conducted in a very interesting & interactive manner. I gained valuable insights on leadership, team building, the importance of emotional intelligence & current trends in luxury market. My key takeaways from the entire experience was understanding the importance of developing emotional intelligence, the importance of leadership, team building and empowering your team. Overall, the trip was very well planned and organized. I would definitely recommend this experience to my friends & associates in the jewellery trade.”  Bharat Diamond Week | April - 2018 | HZ | 107

CUTTING FOCUS

Ministry of Commerce and Ministry of Tourism and Sports Launch Buy With Confidence Program to Boost Confidence in Purchasing Quality Gems and Jewelry in Thailand

inistry of Commerce joins hands with partners to encourage leading jewelry shops and businesses to participate in the “Buy With Confidence” program that will issue certifications to ensure the quality and standard of Thai gem and jewelry with the objective to boost confidence among Thai and international consumers. Minister of Commerce Sontirat Sontijirawongstates that the gem and jewelry industry is one of the key industries in the country, ranking third in exports after automotive and computers, generating 435 billion baht in exports and 533 billion baht in domestic trading, accounting for nearly one trillion baht of turnover or 6.3 percent of the country’s GDP. Foreign tourists are also key buyers of gem and jewelry products with approximately 35.38 million tourists visiting Thailand in 2017. Among this number, Chinese tourists accounted for the largest group totaling around 10 million tourists. “Ministry of Commerce has assigned The Gem and Jewelry Institute of Thailand (Public Organization) or GIT to carry out the Buy With Confidence (BWC) program to boost confidence to consumers and tourists. The program is key to promote Thailand’s position as the World’s Gem and Jewelry Hub

according to government policy through the certification issued by GIT. The project is achieved with the cooperation of many organizations, from the Ministry of Commerce, the Ministry of Tourism and Sports (the Department of Tourism and the Tourism Authority of Thailand), Office of the Consumer Protection Board, and the Tourist Police Bureau. The ministry anticipates that this program will increase confidence for consumers as well as adds more opportunities to businesses to sell certified gem and jewelry to localand foreign tourists. BWC is expected to help generate an additional 10 billion baht in sales of cash and carry goods to foreign tourists which will result in the total sales of gem and jewelry in this category reaching 45 billion baht, a 30 percent increase.”

“GIT’s facilities include a world-class gem and jewelry laboratory that is supervised by the Thai government. Staffed with highly experienced gemologists and equipped with the world’s most advanced instruments, GIT's services are trustworthy and widely recognized in the worldwide industry. Consumers can be confident that every piece of jewelry certified by GIT is trustworthy and is qualified according to the accompanying Gem and Jewelry Certification document. The institute has selected gem, gold and jewelry shops and businesses that pass the qualifying standards to participate as members of the program to receive gems and jewelry certifications from GIT as well as other numerous benefits. Currently nearly 140 companies have applied for membership to this program, with 68 passing the initial standard who will be awarded certificates today. Within 2018, GIT aims to expand membershipof the BWC program to 500 companies, targeting cities such as Bangkok, Chanthaburi and other key tourist destinations.” Bharat Diamond Week | April - 2018 | HZ | 108

CUTTING FOCUS

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TRADE NEWS

Carat+ Night event returns! Second edition on Sunday, May 6, 2018

Caterina Murino, who dazzled Carat+ exhibitors and guests in 2017.

arat+, The World’s Premier Diamond Event, will welcome exhibitors, visitors and Carat+ Club members to its second annual Carat+ Night evening event on Sunday, May 6, 2018.

Carat+ event director, Filip Van Laere, comments: “The ethos behind Carat+ is to create a ‘Diamond Destination’ and focal point for our industry centred on both business and celebration for the diamond community. Carat+ Night is an occasion to celebrate, network and toast a successful first day at Carat+ with a glass of champagne and a very glamorous special guest. We look forward to

Carat+ Night is an invitation-only networking and informal buying e ve n t f e a t u r i n g l ive m u s i c , entertainment and special guests. Exhibitor stands remain open for the occasion, allowing invited customers to conduct informal business and potential clients to explore new ranges and show offers in a relaxed environment. This year, iconic British actress and model, Elizabeth Hurley, will be guest of honour at Carat+ Night. She will formally open the event before meeting exhibitors and discovering the loose diamonds, diamond jewellery and coloured gemstones on display. Speaking ahead of the second edition of Carat+, Hurley comments: “I'm really looking forward to Carat+ as I love beautiful diamonds. This show is totally unique for the diamond industry and Antwerp is the perfect destination to host such an event.” Carat+ Night attendees will also be treated to a very special surprise – a first for a diamond trade event and possibly the wider trade show industry – with those invited advised to have their mobile phones ready for a breath-taking social media moment! In 2017, Carat+ Night welcomed more than 1,800 industry professionals for an evening of networking, informal business and entertainment. As the star of the event, Hurley will follow in the footsteps of Carat+ ambassador, model and former ‘Bond Girl’,

seeing a breadth of industry professionals, exhibitors, visitors and our Partners on Sunday, May 6.” Carat+ has ambitions to become the reference in diamonds; offering an annual meeting place for buying, networking and debating the future of the diamond industry. Launched in 2017, the event attracted more than 3,000 visitors and 130 exhibitors in its first year alone. Partners and sponsors that have joined Carat+ for the 2018 edition include Main Partner Antwerp World Diamond Centre (AWDC), Diamond Partners ABNAmro Belgium; security expert Brinks; insurance broker Driesassur; the Federation of Belgian Diamond Bourses (FBDB); the world’s foremost authority in gemology, GIA (Gemological Institute of America); industry media specialist Rapaport, and Event Partners motor company, Bentley; Brussels Airlines; champagne house Laurent-Perrier; Porsche Center Antwerp, and mobile camera security specialists, Tower Eye. Carat+ takes place on 6, 7 & 8 May 2018 at Antwerp Expo in Antwerp, Belgium. 

Bold Summer Styles! Opt for Skinny Bamboo Bangle, Artistic Cross Earrings

ummers are here! A fun season filled with the beach, bright sun and blue water. With all these fun colours surrounding you, isn’t it time to update your wardrobe with jewellery in vibrant and bold hues? So, let your style be bold and dominated with some eyecatching and pop colours with eccentric designs on the jewellery by The Bohemian. These trendy colours and designs will look great on anyone, no matter your personal style or age. You can choose from a bright red coral and orange hues of amber to represent the sun and the sunset. Choose stones with fun colours such as amethyst and turquoise to signify the fun of the season. The Bohemian offers a variety of colour range and design options to choose from. Opt for their blue ‘Skinny Bamboo Bangle’ or add a pop of pink to your face with their ‘Artistic Cross Earrings’. It’s time to take out your brightest colour summer jewellery and match it with your beachwear! We have got it all covered for you at The Bohemian. The Bohemian, founded by the beautiful Mitaali Vohra in 2015, The Bohemian is a Luxury Fashion Jewelry label launched as an ode to preppy boho chic and effortless on-the-go haute couture. The designs were helmed to provide no-fuss, high-quality accessory options to welltraveled, stylish women looking to make a statement on-the-go. 

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CONTRIBUTORS

Istanbul Glittered with All Jewelry of the World… Istanbul Jewelry Show – March 2018, hosted 30.042 Visitors from 121 Countries!

ecognized as one of the top five jewelry exhibitions in the world, Istanbul Jewelry Show, brought together products and services from 1.250 companies and brands and 30.042 local and foreign visitors for the 46th time between 2225 March 2018. Organized by UBM Rotaforte Uluslararası Fuarcılık A.Ş., the Turkey office of UBM Asia, the biggest exhibition organizer in the Asian continent, and sponsored by Türk Ekonomi Bankası (TEB), which has been meeting the short and long-term financing needs of the jewelry sector for over 20 years and recognized as the 5th biggest international jewelry exhibition in the world, Istanbul Jewelry Show saw a 21% increase in the number of visitors compared to the exhibition in March 2017. As part of the biggest International Buyer Delegation Program of Turkish exhibition sector, 1.500buyersfrom the target countries of the jewelry industry were hosted. On the other hand, the seminars organized under sponsorship of HRD Antwerp alongside the exhibition provided flow of information to the representatives of the jewelry industry. Business contacts made during the exhibition helped realize around 80% of the exports of the Turkish jewelry industry. Bharat Diamond Week | April - 2018 | HZ | 111

CONTRIBUTORS

The exhibitors had the chance to showcase their special products and collections to 30.042 professionals from the sector including 11.095 professionals of the sector from 121 countries. Compared to last year’s exhibition, the exhibition of March 2018 saw a 21% increase in the total number of visitors. 63% of visitors were from Turkey while 37% were from other countries. Istanbul, March 29th, 2018 -Organized by UBM Rotaforte Uluslararası Fuarcılık A.Ş., the Turkey office of UBM Asia, the biggest exhibition organizer in the Asian continent under sponsorship of Türk Ekonomi Bankası (TEB) which is the leader in gold banking, and recognized as one of the top five jewelry exhibitions in the world, the 46th Istanbul Jewelry Show brought together the representatives of the jewelry industry at CNR Expo, Istanbul Fair Center between March 22nd – 25th. And as part of the International Buyer Delegation Program, 1.500 buyers from the target markets of the jewelry industry were hosted at the exhibition.

Top 20 countries that visited Istanbul Jewelry Show – March 2018: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Turkey Iran Saudi Arabia Algeria Iraq India United Arab Emirates Lebanon Russia Jordan Morocco Egypt Israel Ukraine Tunisia Azerbaijan Germany Palestine Greece Italy Pakistan Other Countries Total

18.947 918 792 693 657 649 581 440 416 378 337 305 296 266 231 222 207 183 167 164 164 3.029 30.042

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21% increase in the number of visitors compared to previous year! Organized twice a year for the last 33 years without any interruption by UBM Rotaforte, Istanbul Jewelry Show featured over 1.250 local and international jewelry companies and brands representing a wide range of product groups and sectors including gold, jewelry, diamonds, colored stones, precious and semi-precious stones, pearls, silver, silver accessories and silver household items, gold mounters, refinery, watches, molds, shop window decorations, machinery and equipment side industry, safes, software, and logistics and lighting product groups. The exhibitors had the chance to showcase their special products and collections to 30.042 professionals from the sector including 11.095 professionals of the sector from 121 countries. Compared to last year’s exhibition, the exhibition of March 2018 saw a 21% increase in the total number of visitors. 63% of visitors were from Turkey while 37% were from other countries.

CONTRIBUTORS

The Biggest Buyer Delegation of the Turkish Exhibition Industry was hosted at Istanbul Jewelry Show! The exhibition featured an “International Buyer Delegation Program” coordinated with support from the Ministry of Economy of Turkish Republic and organized by General Secretary of IMMIB-Istanbul Minerals and Metals Exporters Association, Jewelry Exporters’ Association (JTR) and UBM Rotaforte with the goal of supporting exports, finding new markets and preserving the market share. As part of the program, around 1.500 buyers of the sector from Europe, Middle East, America, North Africa and Far East have been hosted at the exhibition. Business contacts made during the exhibition helped realize around 80% of the exports of the Turkish jewelry industry.

together the experts of the sector, as well as sector’s professionals from Turkey and the world. The program of the seminarheld alongside the exhibition, featured panels titled “Synthetic Diamond” and “Rough Diamond” by HRD Antwerp Senior Instructor Wouter Vansteelant, “DnA - Diamonds and Antwerp - 570 years of Heritage” by Beau Declerk from Antwerp World Diamond Centre (AWDC) and “Invest in Turkey” by Attorney Kunter Gürel.

Master and young jewelry designers were at the Designer Market! Organized every year by Jewelry Exporters’ Association (JTR) as part of Istanbul Jewelry Show, Designer Market brought together master and young jewelry designers on the same platform. Designers showcased their signature designs and jewelry at the Designer Market specially created at the exhibition venue.

The latest designs of 2018 have been debuted at Istanbul Jewelry Show! Turkish Jewelry Industry, which recently managed to get rid of its label as the jewelry contract manufacturer in the world, and increased its reputation with unique jewelry designs, debuted trendy designs from the 2018 Spring/Summer jewelry collections for the taste of global jewelry buyers via special shows. Sponsored by TEB and supported by The Ministry of Economy of Turkish Republic, Istanbul Minerals and Metals Exporters Association (IMMIB), Jewelry Exporters’ Association of Turkey (JTR) and KOSGEB, and possessing quality certificate from UFI-The Global Association of the Exhibition Industry and Quality Management System ISO – 9001 certification, Istanbul Jewelry Show brings together over 45.000 professionals of the sector and over 845 exhibitors from Turkey and the world in a 90.000sqm venue every year in March and October. 

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SEASON’S TREND

Klondike Gold Announces $2.mn Program Exploration Program for 2018 announced!

Carat+ welcomes GIA GemFest

arat +, The World’s Premier Diamond Event, announces that GIA (Gemological Institute of America) Executive Vice President and Chief Laboratory and Research Officer, Tom Moses, will speak at a GIA GemFest during the 2018 edition in May.

londike Gold announces that the Board has approved a $2,500,000 exploration program for 2018 within the C o m p a ny ' s K l o n d i ke d i s t r i c t property, Yukon Territory. $2.5 million exploration budget for 2018, which includes, 1: 5,000 to 7,000 meters of drilling, 2: 3,000 to 5,000 new soil samples & 3: 300- to 500line kilometers of ground magnetics. Detailed work in 2018 is designed to s ys t e m a t i c a l ly t e s t fo r g o l d mineralization from the Lone Star prospect along the 55 km trend to the new Gold Run target which is the length of the Klondike District. The Company plans a $2,500,000 exploration program for 2018, a 25% increase in expenditure compared to the 2017 budgeted program. Major components of the 2018 budget include plans for: 5,000 to 7,000 meters of drilling between multiple targets; 3,000 to 5,000 new soils, 300- to 500- line kilometers of ground magnetics surveying, detailed structural and lithologic mapping and prospecting across the entire district for the first time, and contingency for 2018 follow-up on any new targets generated. Prospecting located gold bearing quartz veins with visible gold from very old mine dumps, as well as gold-bearing mineralization from altered outcrops lacking noticeable quartz veins interpreted to be a style of disseminated gold mineralization. 

GIA will participate at Carat + 2018 in Antwerp, Belgium from May 6 to 8, offering information about GIA’s research programs, educational offerings, and gemological laboratory services and instruments. On Monday, May 7, Moses will speak at the GIA GemFest on a current gemological topic. More information about the GemFest talk will be available prior to the show. Throughout Carat + there will be live demonstrations at the GIA booth of the GIA iD100 gem testing device. The new instrument can distinguish natural diamonds - mounted and loose, rough and cut - from synthetic (HPHT and CVD) diamonds and diamond stimulants in the colorless to near-colorless range, in sizes starting from 0.9 millimeters in diameter. There will also be information available on tools and materials for retailers, offered through the GIA Retailer Support Program, including GIA signage, training resources and educational counter displays. The Retailer Support Program also offers material that can be used in advertising, and on a retailer’s website and social media pages. “I am pleased to represent GIA for our inaugural participation in Carat+,” said Moses. “This opportunity to present information about GIA’s instruments, education programs and gem identification and grading services serves our mission of ensuring the public trust in gems and jewellery.” Carat+ founder and event director, Filip Van Laere, comments: “I am delighted to welcome Tom Moses and GIA to Carat+ 2018. His GIA GemFest talk will no doubt offer insightful information to all our exhibitors and visitors, alongside the other fantastic speakers who are taking part in our refreshed programme of content. This commitment to engaging insights, networking and entertainment is what makes Carat+ a true diamond destination, not just in Europe, but for the wider world.” Carat + has ambitions to become the reference in diamonds; offering an annual meeting place for buying, networking and debating the future of the diamond industry. Launched in 2017, the event attracted more than 3,000 visitors and 130 exhibitors in its first year alone. Partners and sponsors that have joined Carat + for the 2018 edition include Main Partner Antwerp World Diamond Centre (AWDC), Diamond Partners ABN AMRO Belgium; security expert Brinks; insurance broker Driesassur; the Federation of Belgian Diamond Bourses (FBDB); the world’s foremost authority in gemology, GIA (Gemological Institute of America); industry media specialist Rapaport, and Event Partners motor company, Bentley; Brussels Airlines; champagne house LaurentPerrier; Porsche Centre Antwerp, and mobile camera security specialists, Tower Eye. Carat + takes place on 6, 7 & 8 May 2018 at Antwerp Expo in Antwerp, Belgium. Bharat Diamond Week | April - 2018 | HZ | 114



TRADE NEWS

7th DPMC By DMCC concluded!

MCC, the world's leading Free Zone for commodities trade and enterprise, held the 7th edition of its industryleading annual Dubai Precious Metals Conference (DPMC) on April 09, with more than 300 participants listening as speakers and panellists from the precious metals sector discussed issues and opportunities critical to the future of the worldwide trade, at The Westin Hotel, Habtoor City, Business Bay. Following the opening speech by DMCC CEO Gautam Sashittal, the conference keynote speech was delivered by Lord Dr Hastings of Scarisbrick CBE, Global Head of Citizenship, KPMG. Lord Dr Hastings said: "If you want to build a sustainable future, then having values and operating ethically and transparently is critical. You can sign declarations on sustainability but actually creating sustainable development is another step. It is about building a decent and dignified future for the people you serve. The challenge is not about what the metals are worth, but what we give back to the communities, and the freedom and dignity we provide for them.” Participants immediately moved on to the first panel of the day on 'The Evolution and Impact of Taxation on Gold'. Panellist Chandu Siroya Vice Chairman, DGLG, said: "We are seeing many effects from the impact of 5% VAT after the first three months. A lot of companies didn't sell for the first 20 days after the VAT came in, and only later got back to selling. The unique structure of Dubai where 85% of gold jewellery is for export, means it is creating uncertainty. We also saw that around 20 offices became available for rent in the gold souk. Unfortunately, the market is down significantly, both at the wholesale and retail levels.” The next panel debate focussed on Responsible Sourcing – Expectations and Reality, with panel moderator Ajay Mathur, Director - Precious Metals, DMCC. Speaking remotely to the audience via video link, Tyler Gillard, Manager of Sector Projects, Responsible Business Conduct Unit, Investment Division at OECD said: “The Dubai Precious Metals Conference is one of the key events in the year for us at OECD. We have worked closely with DMCC, and the gold industry, since 2011 on implementation of responsible sourcing. Investors as well as banks are increasingly expecting to see evidence of responsible sourcing before doing any business with clients. Consumers are demanding it. So essentially, now responsible sourcing is no longer an option, it is a commercial requirement.” The panel on 'Bullion Banking: The Road Ahead' was moderated by Jeffrey Rhodes, Principal Consultant, Rakgold, who introduced the topic by telling conference delegates: "I am very optimistic about the future of bullion banking in Dubai and I expect the market to grow substantially. Dubai is the epicentre of the world physical gold trade, but one of the challenges facing the UAE market is the lack of Western bullion banking activity. This is a constraint on the business and why the evolution of a local bullion banking sector will help remove any barriers to trade.” Insights into the 'Role & Future of Global Exchanges' was the next leading topic on the agenda, with moderator: Somasundaram PR, Managing Director-India, World Gold Council, giving his views Bharat Diamond Week | April - 2018 | HZ | 116

before inviting panellists to answer questions and give their views. Les Male, Chief Executive Officer, Dubai Gold and Commodities Exchange said: "Our main aim is to extend the work of exchanges to work together throughout Asia. Traders are looking for efficiency so that they can work across many exchanges and a have unified clearing house. We want greater cooperation and alliances to give traders added value. More can be done to achieve this and we would like to spearhead it.” The final panel debate of the day was on the subject of 'Challenges in The Jewellery Sector', and moderated by Chandu Siroya, Vice Chairman of the Dubai Gold & Jewellery Group. He concluded: "There are many challenges facing the jewellery industry. These include the responsible and ethical sourcing of gold. There is the problem of lower availability of skilled craftsmen because younger people are looking to work in other industries so it's difficult to attract them. Attracting finance and the costs of doing business, including marketing costs which are relatively higher for small and medium-sized firms, is also one of the challenges. There is the issue of the threat to physical stores of online sales, the problem of counterfeit jewellery and finally the finding a way for the use of lab-grown diamonds in jewellery that can be embraced by all - from manufacturers to consumers.” Ahmed Bin Sulayem, Executive Chairman, DMCC, bringing the conference to a close, said: "Dubai is the world's leading physical gold market and one of the world's top three hubs for the diamond trade. This position is not achieved in isolation, it is by working alongside the industry, listening to business and engaging with stakeholders across the globe. The convening power of the internationally recognised Dubai Precious Metals Conference is hugely valuable in this regard as we gear up for future growth.” Other conference speakers included Albert L. H. Cheng, CEO, Singapore Bullion Market Association; Dr. Paul Elgin Walker, CEO, International Bullion Market Company; Tawhid Abdullah, Chairman, DGJG; Jiao Jinpu, Chairman, Shanghai Gold Exchange; Tim Fox, Chief Economist, Emirates NBD; Bhargava Vaidya, BN Vaidya & Associates; Alex Shaw, Head of Market Development Precious Metals, LME; Effie Marinos, Global Technical Governance Manager - Supply Chain Assessment & Solutions, SGS; Gregory Frith, Global Head of Precious Metals Trading, VTB Capital LTD; and Hakan Aytekin, Deputy Director – Precious Metals and Diamond Market, Borsa Istanbul. 

STYLE GUIDE

Style-spotting with Platinum Evara and the stylish couple

Zaheer Khan and Sagarika Ghatge

he summer wedding season is here! And if you wish to adorn yourself in jewellery that is inspired by global fashion trends to give you that fresh and modern- chic look, go no further than at AB jewels store in Ahmedabad! The new Platinum Evara collection is contemporary. The designs that are fluid making striking pieces that promise to add a classy finishing touch to any outfit. Platinum Evara is your own style statement Newlyweds, Zaheer Khan and Sagarika Ghatge today unveiled this exquisite new collection of Platinum Evara and chose their top 3 must have pieces from the line. The beautiful couple were joined by Mr Manoj Soni, Director, AB Jewels and Ms. Vaishali Banerjee, Managing Director, India, Platinum Guild International at the launch.

Zaheer & Sagarika unveil the specially curated Platinum Evara collection & pick their top Platinum Evara pieces for this summer wedding season

At the launch, Sagarika was all smiles as she picked her favourite pieces from the new collection before her. “I made a point to have Platinum Evara as a part of my wedding trousseau. I feel platinum jewellery always adds distinctiveness to any outfit you wear. The designs are so international and absolutely unique that it’s actually hard to pick one. For instance, this braided necklace from the collection that sits like a choker I can decide to team it with a nice evening dress or even a plain simple saree!” Platinum, with its understated elegance can enhance a simple outfit with the utmost grace. The new collection of Platinum Evara celebrates the global design trend of “MODERN FEMININE” for the bride and “BOLD MINIMALISM” for the groom. It explores fluidity through interlinks – specifically, interlinking various classic motifs to create the elegant and a contemporary collection which compliments the post wedding lifestyle of today’s bride. The men’s pieces from this collection is inspired by geometrical forms and patterns with a bold interplay of lines, structures and dual tones crafted for the discerning urban man.

Sagarika & Zaheer pick their top pieces from Platinum Evara Collction at AB Jewels, Ahmedabad

“I love the look and feel of platinum. My personal favourite is the simple yet stylish chain. If paired with a nice linen shirt that I usually prefer to wear off the field it just adds that simple style and sophistication one needs. Whether you decide to wear a suit or an Indian outfit, it’s always effortless fashion with Platinum.” Said Zaheer Khan about his top platinum picks.

“We are delighted to have Zaheer & Sagarika at our store. We have seen a growing interest amongst our customers for platinum jewellery especially for its globally inspired designs. Today couples are looking for some trendier options that can be worn more often and have a universal appeal. The jewellery pieces chosen by Zaheer and Sagarika today mirror the changing preferences of our customers who desire exclusivity”. Said, Manoj Soni, Director, A B Jewels. “Platinum Evara jewellery is designed keeping in mind the fashion forward choices of the young India. This generation seeks individuality and distinctiveness. This collection is an effort to offer our consumers an exquisite line that match global trend and practical relevance”. Said, Vaishali Banerjee, MD, Platinum Guild International. The Platinum Evara range comprises of necklaces, earrings and bracelets for the bride, and chains and bracelets for the groom. It offers an opportunity for dual gifting for the modern bride and the groom from the parents, in-laws or from the elders in the family.  (L-R) Zaheer Khan & Sagarika Ghagte with Mr. Manoj Soni,Director, AB Jewels & Ms. Vaishali Benerjee, MD, India, Platinum Guild International

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SHOW TIME

BASELWORLD 2018: A SUCCESSFUL EDITION ALL LEADING BRANDS COMMIT TO BASELWORLD 2019

fter seven successful days, Baselworld, the world's most important show for watches, jewellery and gemstones, closed the doors of the 2018 edition yesterday evening. At the closing press conference, Baselworld's Managing Director Sylvie Ritter summarised that this year's edition proved to be successful. An overwhelming majority of the exhibitors reported very satisfactory business results. Although this year's show had been two days shorter than previous editions, the overall number of visitors remained unchanged. The new format, fewer exhibitors and shorter duration, was positively received.

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SHOW TIME All leading brands will exhibit at Baselworld 2019. Definitive commitments have been received from Rolex, Swatch Group, Patek Philippe, LVMH, Chopard, Breitling, Chanel and many other brands. René Kamm, CEO of the MCH Group, gave a favourable outlook: “I believe that Baselworld's present dimensions with 650 brands are optimal. We now have a tailwind for 2019.” For the next edition, the show will also work on new developments. The management will work closely with exhibitors to define new formats for the various sectors. These new formats will offer medium-sized businesses a presence at Basewlorld in line with their needs.

POSITIVE FEEDBACK FROM THE EXHIBITORS Leading exhibitors were likewise very satisfied with this year's show. For example, Rolex's CEO Jean-FrédéricDufour said: “We are very happy with this year's edition of Baselworld. Our new products were extremely well received by our clients and the press. This annual event remains a 'must' for the Swiss watch industry, its evolution and its dynamism, which was proven by the strong participation and the avid enthusiasm. We are looking forward to Baselworld 2019!” Patek Philippe's President Thierry Stern agrees: “We are very satisfied with the positive feedback that our new products for 2018 received from our partners in the specialised trade and from the press. This year will surely be a very positive one and will be characterised by strong dynamism in all our markets.” Jean-Claude Biver, President of LVMH Watch Division and CEO of TAG Heuer, sees the following advantages: “The whole world comes together in Basel. That's why the show is called 'Baselworld'. It is the 'world' for our industry, journalists, VIPs and above all for our partners in the specialised trade. That's why Baselworld is the business platform.” Chopard's Co-President Karl-Friedrich Scheufele said: “Baselworld remains one of the most important networking opportunities for our group. It represents a unique window to meet our international business and media partners in a very condensed time frame. We felt the overall mood was very positive and the level of business conducted highly satisfactory.” François Thiébaud, President of the Swiss Exhibitors' Committee, said: “Baselworld 2018 was a good year and the Swiss exhibitors were satisfied with this year's edition.” Satisfaction likewise prevails among the jewellery brands. Messika's CEO ValérieMessika seesBaselworld's advantages in its internationalism: “Baselworld is our most important trade show because we are present in 60 countries with 400 points of sale. Baselworld offers us opportunities to see our customers and agents from around the globe.” For Maria CarolaPicchiotti, who is a member of the Picchiotti family, “Baselworld is the world's leading jewellery show, where one meets all of the relevant partners in the specialised trade and media representatives.” Positive feedback was also heard in the gemstone sector. For example, Groh + Ripp's owner Bernd WilliRipp declared: “Our Hall 3.0 was well frequented and we could meet many of our elite customers.” 

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WATCH & JEWELLERY

BASELWORLD 2018 IS IN FULL SWING! Until March 27, the latest trends are being presented at this year's superlative watch & jewellery show. Here is a selection of some of the most impressive pieces Rolex Oyster Perpetual Rolex Deepsea The new Oyster Perpetual Rolex Deepsea features a 44 mm case with redesigned lugs and sides and a broader Oyster bracelet, as well as a correspondingly adapted Oysterlock folding safety clasp. This professional divers' watch, waterproof to 3,900 metres, is equipped for the first time with calibre 3235. The Oyster Perpetual Rolex Deepsea is made of Oystersteel and sports a D-blue dial with a deep-blue to pitchblack gradient. 1.0, A11

Tudor Black Bay GMT The famous Black Bay divers' watch is now available with a new GMT function that establishes local time without losing sight of the time in two other time zones. Fitted with the Manufacture Calibre MT5652, the Black Bay GMT sports a distinctive burgundy and blue bezel. 1.0, A11

Patek Philippe Ellipse d'Or On the occasion of the 50th anniversary of the inimitably designed timepiece, Patek Philippe introduces a new rose-gold version with an ebony black sunburst dial highlighting the timeless beauty of the Ellipse d'Or. 1.0, D11

Bulgari Octo Finissimo Tourbillon Automatic The OctoFinissimo Tourbillon Automatic sets new standards in the genre of ultra-slim timepieces. With a case measuring just 3.95 mm in height, it is not only the slimmest tourbillon, but also the world's thinnest selfwinding watch. 1.0, A01

Omega “Speedmaster Dark Side of the Moon” Apollo 8 Half a century after the Apollo 8 mission, Omega commemorates the first manned orbit of the moon by releasing the newest version of the Speedmaster “Dark Side of the Moon”. The legendary chronograph encases a specially decorated version of famous Calibre 18. 1.0, C25D

Zenith Defy Classic

Paul Wild Fancy coloured sapphire set Roberto Coin – Siberian Tiger Limited Edition collection For twenty-two years, the Italian manufacturer Roberto Coin has signed each of his precious jewels with a unique signature in form of a small ruby set inside. One of his highlights this year, is this spectacular Siberian Tiger white gold ring with colourless and black diamonds, pink sapphires and enamel. 1.1, D31

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“Goddesses – The Goddess in Every Woman” is the motto under which Paul Wild shows compiled exciting gem layouts at Baselworld 2018. Pictured is a stunning earring set with fantastic fancy coloured sapphires, with a total weight of 51.43 carats. 3.0, D05

The Defy Classic adds a distinctly classical-looking model to the futuristic Zenith collection. The Defy Classic comes in a 41millimeter titanium case surrounding a dial with star-shaped skeletonising. 1.0, D05

EXCLUSIVE COLLECTION

Pois Moi Luna PETALS COLLECTION THE NUMBER OF LOVE He loves me, he loves me not. As children, popular tradition taught us to use daisy petals to discover whether love was true or not; the number of petals became the number of love. Bangle in rose gold with diamond pavé detail – Medium Bangle in rose gold with diamond Pavé detail – Small Bangle in white gold with full pavé of white diamonds - Large

ROMAN BAROCCO The Roman Barocco collection stems from the classic technique of Roberto Coin's Barocco line – inspired by the beauty of the Italian city that the emperor Adrian consecrated as the Eternal City, cradle of all western culture. The pieces in the collection were inspired by the architecture of Roman buildings and include two different looks with a common thread – the wovengold wire technique which is the leitmotif of the collections in the Barocco family. On one hand, the design of curved sinuous lines inspired by the theatrical Roman cupolas stand out and on the other, Roberto Coin re-interprets a second look reminiscent of an artful light show typical of the Baroque era, using diamonds to create a spectacular optical effect.

Ring in white gold with full pavé of white diamonds – Small Ring in yellow gold – Large Ring in rose gold with diamond Pavé detail – Large Ring in white gold with full pavé of white diamonds - Large

Sauvage Privé Collection

SauvagePrivé is one of the most avantgarde collections in Roberto Coin's universe and according to his vision it embodies the characteristics of the woman of the future.

PRINCESS COLLECTION Walt Disney said that “fantasy can't become dated, for the simple reason that it represents a flight into a dimension that lies beyond the reach of time” and the fantasy of becoming a princess has been a great classic for many generations. So it was that Roberto Coin had no choice but to use the name Princess for the collection he dedicated to hardcore romantics in a modern world. Constructed like a fairytale in chapters of gold and framed with a weave of sparkling magic threads. Each piece in the collection is as unique as the muse that inspired it. Polished gold and brushed gold alternate between romantic floral patterns and bolder looks and, following an antique noble tradition, hide a precious woven thread.

The opposing silhouette of the jewels is the connecting link that anchors all the pieces of the collection to the same inspirational concept: two elements, two distinct parts that face one another united by an invisible bond. This constant shapehas the power to evoke a sense of harmony and balance in the entire collection. On the other hand the aesthetic difference in the two designs, one more geometric and the other more exuberant , strongly characterizes the collection and leaves room for the rebellious nature of creativity. The character of SauvagePrivé is more decisive than ever, designed to strip any superfluous elements away from elegance in order to bond with its instinctive side in a mixture of natural passion and mindfulness, just like Roberto Coin's woman of the future.

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TRADE NEWS

Mountain Province recovers 5,934K carats!

Mountain Province Diamonds announces its financial and operating results for the full year ended December 31, 2017. Accordingly, Earnings from mine operations of $52.1 million Canadian dollars. Total sales of $238 million in 2017, of which $68 million Canadian dollars was capitalized as pre-commercial production revenue and $170 million Canadian dollars is reported as sales in the statement of comprehensive income. Average full-year realization of US$70 per carat or about $89 Canadian dollar equivalent per carat. Approximately 2,775K tonnes of ore treated through the process plant and 5,934K carats recovered, on a 100% basis, for an average recovered grade of 2.14 carats per tonne. This recovered grade is approximately 32% above the original budget for the year ended December 31, 2017. Strong participation at the Company's tender sales, with participation rates increasing through 2017. An average of eleven bids per lot received in 2017, with individual tenders offering approximately 125 lots per sale and over 100 companies bidding each sale. Mountain Province Interim President and CEO David Whittle commented, "2017 was a milestone year for Mountain Province as we transitioned from development into commercial production. Over the second half of 2017, which covers our first two full quarters of reported mine operating results, we saw an adjusted EBITDA figure of $56.6 million, underscoring the cash flow generating capabilities of the GK mine.

HW Micropavé Engagement Ring

he ultimate expression of true love, Harry Winston (HW) Engagement Rings feature rare diamonds selected from only the top color (D, E, and F) and clarity grades (Flawless-VS2) expertly set in platinum to create a superlative engagement ring that shines with maximum brilliance. From cushion-cut, to emerald-cut, to oval and pearshaped, the House’s unique engagement rings are available in a variety of cuts and styles. The One, an exceptional engagement ring and unique piece of fine jewelry, features a cushion-cut diamond center stone, framed by Micropavé diamonds, set on a Micropavé band. The timeless glamour of the Micropavé setting has quickly become an iconic Harry Winston style. Set in a delicate, feminine design, each diamond engagement ring is meticulously hand-crafted, to highlight the diamond's graceful beauty. This refined jewel is available with center stones from 1.00 to 3.50 carats, with Micropavé on frame and band, set in platinum. Higher carat weights are available by request. Set in a delicate, feminine diamond Micropavé halo to enhance the natural brilliance of its center-stone, The One captures the unique and rare beauty of the world's finest diamonds, and your one true love. 

For 2018, production is expected to increase from 2017 to between 6.3 and 6.6 million carats recovered at an average grade of 2.02 to 2.12 carats per tonne. This has all been achieved with a commendable safety record at site, and I congratulate the entire De Beers operating team at the GK mine for what they've accomplished. The 2018 year has seen a strong start in rough diamond markets. The first two sales of the year substantially exceeded expectations, and prices have firmed across all product categories since the second half of 2017. We look forward to a year of strengthening fundamentals in the diamond industry." 

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TRADE NEWS

Linking Core Banking with SWIFT

User-Friendly GST Network

epartment of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para75), a Steering Committee on Fintech related issues was constituted to consider various issues relating to development of Fintech space in India.

With a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-a-vis other emerging economies and to focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs. The first meeting of committee was held on 10.3.2018.

Linking Core Banking Goods and Services Tax Network (GSTN) has sought the views of the taxpayers about their experience and difficulties. A survey was conducted by GSTN on overall taxpayer’s satisfaction during the months of October 2017 & November 2017. The taxpayers for the Survey were selected at random, on the basis of their most recent activity, on the GST portal. The Survey was not conducted State-wise. On the basis of the Survey/ response received, suggestions / concerns were identified. The action/ steps taken by GSTN in this regard is annexed as Annexure with the department.

Reserve Bank of India (RBI) has informed that it has reiterated its instructions regarding “Cyber Security Controls - SWIFT” and “Cyber Security Controls – frauds related to trade finance transactions – misuse of SWIFT”, and mandated banks to implement the prescribed measures for strengthening the SWIFT operating environment in banks within the stipulated deadlines. These instructions aim to strengthen SWIFT-related operational controls and reinforce fraud prevention and detection frameworks in place in banks, with a view to avoid misuse of SWIFT.

The aforesaid steps have improved the system and made it userfriendly. Further, the following steps have been taken to make GST system simpler for tax payers, 1: Edit facility is available in returns and other forms, 2: Offline tools for return preparation and other functionalities have been provided & 3: User manual, Video tutorials and FAQs have been provided for different functionalities which can be used by the tax payer. Approximately 60,000 tax officers/officials of Central/State Government have been trained so that they can assist taxpayer and resolve their queries/grievances and train them on various functionalities. 

The Farnese Blue under hammer!

ne of the foremost historic diamonds – The Farnese Blue – will appear on the market for the first time in history this spring, after having remained in the same family for over three centuries. Given to Elisabeth Farnese, Queen of Spain (16921766), the legendary diamond has subsequently passed down through four of the most important royal families in Europe: Spain, France, Italy and Austria. Witness to 300 years of European history, from the aftermath of the Spanish succession War to the fall of the Habsburg Empire, the diamond has travelled across the continent for centuries. And all this time, it was kept secretly in a royal casket. Excepting close relatives, and of course the family jewellers, no one knew of its existence. The 6.16-carat pear shaped blue diamond will be offered in Sotheby’s sale of Magnificent Jewels and Noble Jewels in Geneva on 15 May 2018 with an estimate of CHF 3.5 - 5 million (US$ 3.7 - 5.3 million). David Bennett, Chairman of Sotheby’s International Jewellery Division and Co-Chairman of Sotheby’s Switzerland, said: “It is difficult to put into words the excitement of holding between thumb and forefinger a gem discovered centuries ago, knowing it originated in the legendary Golconda diamond mines of India. This stone has witnessed 300 years of European history, and in colour is Bharat Diamond Week | April - 2018 | HZ | 128

reminiscent of historic Golconda blue gems such as the Hope diamond.” Dr Philipp Herzog von Württemberg, Chairman of Sotheby’s Europe and Managing Director of Germany added: “With its incredible pedigree, the Farnese Blue ranks among the most important historic diamonds in the world. From the first minute I saw the stone, I could not resist its magic and as such it is a huge privilege to have been entrusted with this sale.” Magnificent Jewels and Noble Jewels auction would be held at Sotheby’s London, 15 May 2018. 

TRADE NEWS

Role and Future of Global Exchanges! CME, DGCX, LME and Borsa Istanbul Discuss Role and Future of Global Exchanges at DPMC

t the DMCC-hosted Dubai Precious Metals Conference, four of the world's foremost Exchanges gathered for the first time in Dubai to discuss 'The Role and Future of Global Exchanges'.

The DMCC subsidiary, DGCX together with invited guests; CME, LME and Borsa Istanbul discussed their views on the role of their respective exchanges on the markets going forward, in a panel sponsored by the Gold trading powerhouse INTL FC Stone and moderated by Somasandrum PR of the World Gold Council. Numerous topics were discussed, with the overall opinion that cooperation within the sector was key. Les Male, Chief Executive Officer, DGCX, said: "Our main aim is to extend the work of exchanges to work together throughout Asia. Traders are looking for efficiency so that they can work across many exchanges and have a unified clearing house. We want greater cooperation and alliances to give traders added value. More can be done to achieve this and we would like to spearhead it." His view was echoed by the panellists, Alex Shaw, Yang Lu, Hakan Aytekin and Jiao Jinpu. Further discussions on the nature of change that global futures markets have undertaken and continue to undertake included such topics as Electronic Trading, Price Discovery, Visibility, Growth and the evolution of the Spot-to-Futures markets. There was also the acknowledgement from the panellists that regulation has played and will continue to play a large part in the future evolution of exchanges. Alex Shaw, Head of Market Development – Precious Metals, London Metals Exchange, said: “There has been extreme pressure on the LME due to regulatory change. That has changed the way of doing business. In this new era of a highly regulated gold market and interconnection between markets, we had banks coming to us to be able to provide the trading of spot and futures positions within the existing Infrastructure. Price discovery has become a hot topic. But are they discreet and justify the prices provided by different regional markets, or are we so interconnected that the same prices run through to all the exchanges? I believe that all regional markets can all have their own price and justify having their own price. There is a profound change in trading. Price discovery and centres of trading exist for historical

reasons. Will they stay relevant? Although we see a big increase in the scale of trading in Asian markets, I see LME still retaining a key role in trading and price discovery. There are more opportunities for the LME to consolidate.” Over the last twenty years trading exchanges have become increasingly reliant on Electronic Trading as trading floors have been closed enabling greater anonymity when trading, whilst the tightening of regulatory oversight, as well as the introduction of low latency solutions, has helped to drive volumes and increase price discovery amongst international and regional exchanges. Yang Lu, Director, Metals Products, CME, based in London, said: “Electronic trading provides convenience and price discovery wherever you are. We are definitely not losing out, but rather riding on the momentum of trade moving from West to East. We are already this year seeing further strong growth and this is coming from Asian clients and EMEA countries. At CME, electronic trading is open 24 hrs a day and people can trade anywhere at any time. There is certainly a change in the market that we can feel.” Another key take away was benchmarking. Global benchmarks are often created through access, volume traded and longevity. Further to this as an exchanges position within its own country and wider region adds additional weight to the way markets view benchmarks. Emphasising this, and with a further compliment to co-operation Jiao Jinpu, Chairman, Shanghai Gold Exchange added in an earlier keynote: “Opening up the Shanghai Gold Exchange and innovation are the main issues that we are promoting. We want to open the Chinese market to the global market in order to increase business and to promote the SGE gold benchmark market. We launched a new contract with the Dubai Gold & Commodities Exchange last year and we are very happy with the success of it. This is an example of the kind of cooperation that we are searching for in finding and working with new partners.” After the panel discussion, it was clear the audience attention was peaked with each of the panellists being in demand to answer questions on the various points raised. 

Prosperity with Nebula!

itan has announced a scintillating offer this Akshaya Tritya season under the Nebula range of solid Gold watches. Bring home good fortune with these exquisite watches set in 18k and 22k solid Gold. With elegant designs, Nebula watches blend of the rich heritage of Indian jewellery making and the fine craftsmanship of watchmaking. These watches bring to life Indian grandeur, celebrating the rich Art and Architecture of a resplendent past. Marking the auspicious season, Nebula has offered up to 20% Off up to 22nd April 2018. So, come over and discover the exquisite world of Nebula.

These highly design differentiated watches leave you spoilt for choice. The highlights for this season include the Filigree, Precious Stones, Calligraphy, Nazakat (Kundan Polki) and Ashoka Maurya collections. Speaking on the occasion of Akshaya Tritiya, Mr. Ravi Kant, CEO, Watches and Accessories Division, said, “Nebula is India’s first national brand of solid gold watches. These watches blend the rich artisanal heritage of Indian jewellery making and the fine craftsmanship of watchmaking. These design and craftsmanship of Nebula watches bring to life Indian grandeur, celebrating the art and architecture of India’s resplendent past.”  Bharat Diamond Week | April - 2018 | HZ | 129

TRADE NEWS

Launch of Diamond identification kit at latch! MGCJ to launch portable synthetic diamond identification kit to identify synthetic diamonds, both loose and mounted

ne of the highlights of the upcoming 4th Mediterranean Gemmological and Jewellery Conference (MGCJ), to be held May 18-20, in Budva, Montenegro, will be the introduction of an affordable synthetic diamond identification kit and other portable instruments that will enable users to help identify loose and mounted melee-sized synthetic diamonds, as well as larger stones. MGCJ, which is a gemmological conference that stands out for its practical workshops and training sessions, will offer hands-on instruction of these new instruments. MGCJ founder and Conference Chair Branko Deljanin said that during the past years, due to the influx of melee-sized synthetic diamonds into the market, various instruments producers and gemmological laboratories had launched screening and detection instruments to help dealers and jewellers identify undisclosed synthetic diamonds. "The problem is that good spectrometers are very expensive, costing from $10,000 to as much as $125,000 and that only few laboratories can afford them. As a result, there are too few labs in the market that have sufficient funds and experience to confidently and positively identify synthetic diamonds," Deljanin stated. "Consequently, most of the instruments used are inaccurate 'testers' or 'screening devices' that just can indicate if a stone is a Type I or Type II diamond but cannot provide a definite answer to if the stone is of natural or of synthetic origin!" he continued. The new portable synthetic diamond identification kit is the result of the collaboration between Deljanin, who is Chief Gemmologist of CGL-GRS Swiss Canadian Gemlab in Vancouver; George Spyromilios, Director of the Independent Gemological Laboratory Hellas (IGL), of Athens, Greece; John Chapman, of the Australian gemmological instruments manufacturer Gemetrix; and Dominic Mok, Director of the Hong Kongbased Asian Gemmological Institute and Laboratory (AGIL). Their combined experience, gathered during their many decades of research and work, and collated during three annual Mediterranean Gemmological Conferences and more than 30 workshops given in 16 countries, ultimately led to the development of the new identification kit. 

Detour and Kirkland join WGC Kirkland Lake Gold Ltd. is a mid-tier gold producer targeting over 620,000 ounces of gold production in 2018 from mines in Canada and Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential. David Harquail, Chair of the World Gold Council, commented: “Members of the World Gold Council include the world’s leading and most forward thinking gold mining companies with operations across the globe. I am therefore delighted to welcome both Detour Gold Corporation and Kirkland Lake Gold Ltd to the Board as their support and insights will be highly valued.”

he World Gold Council (WGC), the market development organisation for the gold industry, has welcomed Detour Gold Corporation and Kirkland Lake Gold Ltd. to its Board of Members. Detour Gold Corporation (Detour) is a Canadian mid-tier gold mining company, with expected 2018 production to be between 600,000 and 650,000 ounces. Detour owns and operates the Detour Lake mine, one of the largest gold producing mines in Canada, which has reserves of nearly 16 million ounces of gold. Bharat Diamond Week | April - 2018 | HZ | 130

“Detour is pleased to become a member of the World Gold Council, which has been the thought leader in not only expanding the understanding of the benefits of gold but implementing real change, to bring greater access to our unique commodity,” said Paul Martin, President and Chief Executive Officer of Detour Gold Corporation. “We look forward to contributing and supporting the growth of gold around the world through our membership.” “The World Gold Council plays a critically important role in representing our industry and supporting gold as a mainstream investment across the globe,” said Anthony Makuch, President and Chief Executive Officer of Kirkland Lake Gold. “With two of the world’s highest grade gold mines and a plan to grow annual gold production to more than a million ounces, Kirkland Lake Gold benefits greatly from the Council’s ongoing efforts to make gold more accessible to a broad range of investors, and we are very honoured to be joining this distinguished organisation,” he added. 

SHOW TIME

SWAROVSKI`s branding partners set the New Trend at the 14th Gem & Jewellery India International Exhibition (GJIIE), Chennai. SWAROVSKI® ZIRCONIA collections by Nine Swarovski`s branding partners grab the spotlight of the entire Chennai Show

he 14th edition of Gem & Jewellery India International Exhibition (GJIIE) organized by Madras Jewellers Diamond Merchants Association (MJDMA) and UBM India, at the Chennai Trade Centre. Chief Guest Mrs. Suhasini Maniratnam, Mr. Jayantilal Chalani, President, MJDMA; Mr. Yogesh Mudras, Managing Director, UBM India; Mr. S. SANTHAKUMAR Hon. Secretary MJDMA; Mr. Abhjit Mukherjee, Group Director, UBM India inaugurated the show amidst a grand industry gathering in the presence of other Industry dignitaries Mr. Anantha Padmanabhan, Vice Chairman -GJC, Mr. K. Srinivasan, M.D -Emerald Jewel industry, Mr. Rajendra Jain, M.D -Swarovski Gemstones, Mr. Mahendra Tayal -President HJMA & South India Chairman GJEPC, Mr. Shantilal Patel -President GJTCI and others. GJIIE, a gateway to the Indian jewellery market, has a special focus on South India’s repertoire, and provides an excellent platform for buyers and suppliers to connect, network, exchange ideas, discover upcoming trends and generate business opportunities. It continues to attract well- reputed local and overseas buyers, reinforcing the expo’s position as a proven and trusted sourcing hub for the industry. Jewellery sector which is also export-oriented and labor intensive, deeming India as the hub of the global jewellery market. It is extremely important that the community convenes under one platform to connect, trade, discuss growth and tribulations, and create a core strategy to overcome the challenges of the sector. As South India’s largest jewellery expo in the country,

GJIIE takes pride in its role to provide this micro ecosystem for jewellery professionals and create an international trading platform enabling jewellery, diamond, pearl and gemstone suppliers to congregate, interact and network with stakeholders, both local and international.” Speaking at the inauguration of South India’s largest jewellery expo – GJIIE 2018, Mr. Yogesh Mudras, Managing Director, UBM India said, “We see abundant opportunities in the Gems and Jewellery sector which is also exportoriented and labour intensive, deeming India as the hub of the global jewellery market. It is extremely important that the community convenes under one platform to connect, trade, discuss growth and tribulations, and create a core strategy to overcome the challenges of the sector. As South India’s largest jewellery expo in the country, GJIIE takes pride in its role to provide this micro ecosystem for jewellery professionals and create an international trading platform enabling jewellery, diamond, pearl and gemstone suppliers to congregate, interact and network with stakeholders, both local and international.” “With the overwhelming response received during our last edition in March 2017 the 14th edition of GJIIE aims to be a bigger affair with great business opportunities. We would further like to express our gratitude to all the jewellery associations in the South who have sincerely and readily provided complete support to our endeavour,” he further added.

GJIIE, a gateway to the Indian jewellery market, has a special focus on South India’s repertoire, and provides an excellent platform for buyers and suppliers to connect, network, exchange ideas, discover upcoming trends and generate business opportunities. It continues to attract well- reputed local and overseas buyers, reinforcing the expo’s position as a proven and trusted sourcing hub for the industry.

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SHOW TIME The expo scored high on the visual and aspirational aspect with the launch of Jewellery collections studded with Swarovski Zirconia from nine Swarovski`s branding partners across India SURYA GOLDS PVT LTD

TANVI GOLD CAST LLP

EMERALD JEWEL INDUSTRY INDIA LTD

GUNJAN JEWELS

Speaking on the occasion of the 14th edition of GJIIE, Mr. Jayantilal Chalani, President, MJDMA said, “The Gems and Jewellery sector contributes around 7 per cent of the country’s GDP and employs over 4.64 million workers. Being extremely export oriented and labour intensive, it is one of the fastest growing sectors in the country. The market in India is also home to more than 5,00,000 players, with the majority being small players. GJIIE is an initiative by the trade and for the trade. We are delighted to see that the expo has participation from the deep interiors of the country, including Tier II and Tier III towns.” Mr. Rajendra Jain, Managing Director, Swarovski Gemstones™ said “GJIIE Chennai turns out to be an excellent performing show and have become as important like IIJS in the south India market. It gives me an immense pleasure to see Swarovski’s nine exclusive branding partners participating in the show and have received tremendous positive response despite of current challenging market situation. This indicates that SWAROVSKI is well positioning and creating a new trend and tone for the consumers of India. I would like to congratulate the organizers for conducting such a wonderful show and giving Swarovski and its branding partners an opportunity to showcase their art of collection, innovations and technology. The expo scored high on the visual and aspirational aspect with the launch of Jewellery collections studded with Swarovski Zirconia from nine Swarovski`s branding partners across India: Emerald Jewellery Industry a branding partner of Swarovski Gemstones™ showcased several innovative collections that highlights their designs and technology strength. RKR Gold has launched new collections Signature, Vivid and Veni comprising of 5000 +designs exclusive set with Swarovski® Zirconia. Amy Exports & Imports launched- 1-gram gold jewellery, Sun collection and Dancing Jhumkas an incredible collection with Swarovski Zirconia that were sold out on the first day itself. Rasi Jewellery has launched Creamy Collection, an exclusive designers’ collection set with Swarovski® Zirconia. Surya Golds, Yug by Tanvi Gold cast, Ramesh Chand Jewellers, Golden Moments and Gunjan Jewels proud branding partners of Swarovski rocked the show with exclusive collection set with Swarovski® Zirconia. Capturing the trends of the season Emerald Jewel Industry, RKR Gold, Surya Golds, Amy Exports & Imports, Rasi Jewellery, Rameshchand Jewellers, Yug by Tanvi Gold Cast Golden Moments and Gunjan Jewels showcased masterpieces that defined expertise in design, trend & craftsmanship embellished with Swarovski Zirconia as brilliant as a diamond. Bharat Diamond Week | April - 2018 | HZ | 132

RAMESHCHAND JEWELLERS

RKR GOLD PRIVATE LIMITED

GOLDEN MOMENTS JEWELLERY

RASI JEWELLERY

AMY EXPORTS & IMPORTS

TRADE NEWS

Active exploration at Botswana!

otswana Diamonds plc announces financial results for the six months ended 31st December 2017 & says recent months have been a very active exploration period for Botswana Diamonds. Significant drilling and exploration has taken place on our advanced project at Thorny River in South Africa. We are undertaking a Scoping Study into its commerciality.

Botswana Diamonds

Drilling is ongoing on the Ontevreden kimberlite in order to delineate size and diamond content. Nine kimberlites in the Northwest and Free State Provinces of South Africa were discovered or re-discovered; Exploration is continuing in the Central Kalahari Game Reserve (CKGR) in Botswana. Through Sunland Minerals, the Company’s joint venture with Alrosa. Botswana Diamonds personnel are currently engaged in a work programme. Progress is being made in our Maibwe joint venture in Botswana. A prospectus is being drawn up by the liquidator of BCL, to identify options; and £500,000 (before expenses) has been raised early in 2018 to fund the ongoing exploration activities. Apart from ongoing exploration activity on four projects and active involvement in bringing the Maibwe situation toward a conclusion, management and directors are examining certain proposals which have been presented to the Board. Over the coming months shareholders can expect regular updates on both exploration and corporate activities. 

Fura begins initial production of emeralds! for the commencement of the Bulk Sampling Program. Detailed geological and topographic survey programs have been initiated and to date, 24 historical workable tunnels, consisting of 17km, have been surveyed and mapped out of 23km.

ura Gems Inc. announces the commencement of its Bulk Sampling Program at the Coscuez emerald project in Boyacá, Colombia-the Coscuez Emerald Mine. The announcement says, Fura owns a 76% beneficial interest in the Coscuez Emerald Mine which covers a total area of 46 hectares. The Bulk Sampling Program has been initiated and total of 30,000 tons of material from the mineralized body are expected to be collected in the first phase of the program on or before 31 December 2018 using existing tunnels. The main purpose of the Bulk Sampling Program is to collect the most representative samples from the mineralized body at different levels from all accessible tunnels and workings within the Coscuez Emerald Mine. Data collected from the program will then be modelled to permit Fura to better understand the mineralized grade and prepare a mining plan. During the initial phase of bulk sampling, a total of 1,720 carats of emeralds were mined, out of which 826 carats were high quality emeralds! Since February 2018, the Company has been upgrading the safety standards at the Coscuez Emerald Mine to create a safe environment

The Fura management team has started designing the pilot wash-plant to support the bulk sampling process with a rated capacity of 30 tons per hour and the Company expects such plant to be commissioned on or before 30 June 2018. Dev Shetty, President & CEO of Fura, commented: “Fura has achieved an important milestone by commencing the bulk sampling mining operation at the Coscuez emerald mine within eight weeks of the completing the acquisition of the mine.” “The initial production of 1,720 carats of emeralds, including 826 carats of top quality emeralds, during the early stage of the program further confirms the quality of the Coscuez emerald mine. We will continue to build our geological knowledge of the license area and also strive to modernize the Coscuez emerald mine. Fura has now become the first publicly listed company in the world to commence a bulk sampling operation in Colombia, the world’s largest supplier of emeralds.” 

Pangolin to acquire Ak10

angolin Diamonds Corp. announced that it has signed an option agreement with Makanwu Civil Blasting (PTY) Ltd. (MCB), a private company incorporated under the laws of the Republic of Botswana. Under the Agreement, MCB has granted Pangolin the sole and exclusive option to earn up to a 75% interest in respect of MCB’s precious stone AK10 Diamond Project located in the Central District of Botswana, Africa. Dr. Leon Daniels, President and CEO of Pangolin, commented, “I am extremely pleased with this transaction. The AK10 kimberlite has been under evaluated and the opportunity exists

potentially to uncover and develop another AK6 Karowe Mine.” In 2002, Dr. Daniels co-founded African Diamonds PLC for the sole purpose of acquiring kimberlites De Beers originally discovered and that he believed could be

economical. He is one of the world’srenowned kimberlite exploration geologists and identified the opportunity. The joint venture between African Diamonds PLC and De Beers included the group of kimberlites in the area that De Beers had under evaluated. This group included the AK6 kimberlite located in the Orapa Kimberlite Field. In 2010, Lucara Diamond Corporation purchased AK6 for approximately $120M USD. The Karowe Mine on the AK6 kimberlite continues to be mined by Lucara Diamond Corporation and is one of the world’s leading producers of very high value diamonds and is known for containing rare large Type IIa diamonds with spectacular color and clarity. The AK10 kimberlite is only 4 kilometres NNE from the Karowe Mine.  Bharat Diamond Week | April - 2018 | HZ | 137

TRADE NEWS

Rough Diamond Generic Training Guangzhou Diamond Exchange Hosts Rough Diamond Generic Training Course

rom March 30th to 31st, the professional technical team of Guangzhou Diamond Exchange (GZDE) together with the senior rough diamond buyers opened the first Generic Public Course on Rough Diamonds, to which the industry responded enthusiastically. Only a few Hong Kong companies in China have rough diamond long-term supply qualifications from large diamond producers such as De Beers, ALROSA, Rio Tinto, and Dominion. To most mainland Chinese companies, rough diamonds industry is unfamiliar and mysterious. This Rough Diamond Generic Training Course includes theoretical learning, trading experience sharing, factory visiting, and goods viewing, and has attracted diamond industry players from Beijing, Shanghai, Shenzhen, Guangzhou, etc. Theoretical study began with explaining the geological conditions required for the formation, preservation, and production of diamonds, and pointing out the relevance between the geological origin of diamonds

and emotional marketing. This course also overviewed the sales system and trade regulations of the global rough diamond industry, and explained the identification, grading, cutting and polishing of rough diamonds which is essential for trade. Senior rough diamond buyers from the plotting, manufacturing and trading sectors in the multinational diamond trading and manufacturing companies shared their years of experience in diamond manufacturing management and rough diamond purchase from Russia and Belgium, and detailed the major international sorting system of rough diamonds, the expected quality and yield rate of each lot/type and their price trends. One of the examples mentioned that a package of 300ct rough diamonds bought in Belgium in 2014, with an average weight at around 1.06ct and a price at USD 510/ct, finally turned out a sweet memory for the buyer with a handsome profit, impressing all the trainees. Compared to the purchase of polished diamonds, the buyers believed that

purchasing rough diamonds brings greater autonomy and leeway. A High-tech company also took a high-definition rough diamond design instrument to the training site and demonstrated how to scan, analyze and design rough diamonds to increase their value. The visit to the processing factory further strengthened trainees' understanding of the design and processing of rough diamonds. The trainees witnessed how the modern factory combined the mechanized design & production with manual operation. In addition, the GZDE provided the trainees the good viewing practices with the rough diamonds being listed for trading. 

GJEPC in a historic move! Signs a cooperation agreement with UBM

n a historic move, the Gem & Jewellery Export Promotion Council (GJEPC) has signed a cooperation agreement with UBM Asia Ltd, for organizing the India pavilion at UBM's Hong Kong Jewellery & Gem Fair held during June and September 2018. Both shows are the leading and the most sought after ones in the gem and jewellery world. GJEPC is the apex body of the gem & jewellery industry in India, representing more than 6500 member exporters. 1:June Hong Kong Jewellery & Gem Fair (6JG) to be held during 21 – 24 June 2018 at Hong Kong Convention & Exhibition Centre 2: September Hong Kong Jewellery & Gem Fair (9JG) is scheduled during 12 – 16 September 2018 at AsiaWorld Expo & during 14 – 18 September 2018 at, Hong Kong Convention & Exhibition Centre. GJEPC Chairman Mr. Pramod Agarwal said, “Hong Kong has been second largest export market for the Indian gem & jewellery industry. The two UBM shows of June and September is an important platform for the Indian G&J industry as these shows will not only help us to expand our reach in the Hong Kong market but will also give access to other key markets in Asia. In a landmark Bharat Diamond Week | April - 2018 | HZ | 138

India, today, is the most sought after sourcing destination for gems and jewellery for the global market.

cooperation agreement with UBM, we have made sure that our best manufacturers get this opportunity at India Pavilion to showcase their capabilities in terms of best cuts and jewellery design”. Jewellery & Gem Fair 2018 show, India pavilion will cover 582/sqm with 50 exhibitors at Gemstones in Hall no. 5E; Diamonds in Hall no. 3BDCE. A total of 50 exhibitors will be participating at the June Jewellery & Gem Fair 2018 show where Gemstones section is located at Hall no. 5E and Diamonds section is at Hall no. 3BDCE. For the September show, a total of 110 exhibitors will be participating at India Pavilion covered in an area of 1419 sqm with Gemstones section at Hall no. 10, Diamonds at Hall no. 11 and Fine Jewellery at Hall no. 3E.

The overall gem & jewellery exports for the period April 2017 – Jan 2018 accounted for US$ 33903.28 million. Out of which a staggering US $ 10932.78 million export were to Hong Kong; Cut and polished diamonds exports accounted for US$ 7976.81 million; Gold jewellery at US$ 782.13 million whereas coloured gemstones recorded exports worth US$ 160.23 million. GJEPC, over the years, has played a significant role in boosting and promoting country's exports through various initiatives and programmes. Be it organizing the mega India International Jewellery Show (IIJS), SIGNATURE or India Pavilions at major Trade Fairs across the world. GJEPC also focuses on programmes like Buyer- Seller Meet. The Council has been at the forefront for the benefit of this gigantic industry. Exhibiting at the two UBM shows of June and September 2018 under the Indian Pavilion will enjoy a group advertising exposure fully supported by GJEPC. For more details regarding participation under the Indian Pavilion, contact GJEPC. 

TRADE NEWS

US-China trade war, Retailers Responds! Many fears is this Trump imposes new tariffs on Chinese gem-njewellery segment may also hurt global gem-n-jewellery industry especially India! Earlier U.S. Trade Representative (USTR) had announced Proposed Tariff List on Chinese Products Under Section 301 of their Act. As part of the U.S. response to China’s unfair trade practices related to the forced transfer of U.S. technology and intellectual property, the Office of the U.S. Trade Representative (USTR) today published a proposed list of products imported from China that could be subject to additional tariffs.

he National Retail Federation (NRF) issued the following statement from President and CEO Matthew Shay after U.S. Trade Representative Robert Lighthizer released a list of Chinese imports subject to new tariffs under the Trump administration: “As we’ve said all along, tariffs are taxes on consumers and a drag on the nation’s economy. While we are pleased that many everyday products such as clothing and shoes are not on the list, we remain concerned that other goods such as consumer electronics and home appliances are targets. And we believe that tariffs on certain machinery will make American-made products more expensive. “This entire process creates uncertainty and makes it difficult for retail companies that must rely on complicated global supply chains. Tariffs threaten to hurt consumers, jeopardize job creation and increase the cost of doing business here in the United States. Once again, we urge the administration to work with our trading partners to hold China accountable, advance targeted solutions and recognize the unintended consequences of protectionist trade policies.”

Following USTR’s Section 301 investigation, President Trump announced in March that the United States will impose tariffs on approximately $50 billion worth of Chinese imports and take other actions in response to China’s policies that coerce American companies into transferring their technology and intellectual property to domestic Chinese enterprises. These policies bolster China’s stated intention of seizing economic leadership in advanced technology as set forth in its industrial plans, such as “Made in China 2025.” The proposed list of products is based on extensive interagency economic analysis and would target products that benefit from China’s industrial plans while minimizing the impact on the U.S. economy. Sectors subject to the proposed tariffs include industries such as aerospace, information and communication technology, robotics, and machinery. The proposed list covers approximately 1,300 separate tariff lines and will undergo further review in a public notice and comment process, including a hearing. After completion of this process, USTR will issue a final determination on the products subject to the additional duties. 

16 APAs by CBDT in March

ndian Advance Pricing Agreement (APA) regime moves forward with the signing of 16 APAs by CBDT in March, 2018. The Central Board of Direct Taxes (CBDT) entered into 14 Unilateral Advance Pricing Agreements (UAPA) and 2 Bilateral Advance Pricing Agreements (BAPA) during the month of March, 2018. The 2 bilateral APAs have been entered into with the United States of America. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 219. This includes 199 Unilateral APAs and 20 Bilateral APAs. A total of 67 APAs (9 Bilateral and 58 Unilateral) have been signed in the FY 2017-18. The 16 APAs entered into during March, 2018 pertain to various sectors of the economy like Telecommunication, Information Technology, Automobile, Pharmaceutical, Beverage, Trading, Manufacturing and Banking, Finance & Insurance. The international transactions covered in these agreements include payment of royalty fee, provision of business support services, provision of corporate guarantee, contract manufacturing, provision of marketing support services, provision of engineering design services, provision of engineering support services, merchanting trade of agro commodity, import/export of components, provision of

IT services, provision of IT enabled services, provision of investment advisory services, availing of technical services, etc. The progress of the APA scheme strengthens the Government’s resolve of fostering a non-adversarial tax regime. The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner. Since long government is moving fast at the APA front yet one of the sparkling-n-glittering gem-n-jewellery is out of the ambit of APA while industry & trade is also wishing to accommodate in the APA! 

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TRADE NEWS

CIBJO Congress next in Manama!

Manama proposed to host in 2019!

IBJO President Gaetano Cavalieri has concluded a week-long visit to the Kingdom of Bahrain, as the guest of DANAT, the Bahrain Institute for Pearls & Gemstones, during which he met with the leadership of the country's fast-developing gemstone and jewellery centre, and discussed the possibility of its hosting the CIBJO Congress in 2019. Located on an archipelago on the northern flank of the Arabian Peninsula, the energyrich Kingdom of Bahrain is home to a pearling industry that traces its history back 4,000 years. DANAT, the Bahrain Institute for Pearls and Gemstones, was formerly was established in 2017, as a wholly-owned subsidiary of the Bahrain Mumtalakat Holding Company, the Kingdom's sovereign wealth fund. Upgrading a 27-year pearl and gem-testing laboratory that, when it was formed in 1990, was the first such facility in the Middle East, under its new structure and with a state of the art laboratory it aims to become an internationally-recognised institute for third party verification services and scientific research into pearls and gemstones. Although it just recently announced the discovery of massive shale oil reserves off its western coast, Bahrain was the first of the Gulf states to make the transition from a t energy-based economy into a one that is today anchored by banking, trade and tourism. Mumtalakat was created by a royal decree in 2006, with the objective of pursuing longterm value-enhancing opportunities for the country's state-owned, non-oil and gasrelated assets. It established DANAT from the older Pearl & Gem Testing Laboratory to support the country's distinguished pearling history and heritage, as well as to tap into the rapid growth of the jewellery industry across the world, though the issuance of verification and authentication reports, continuous scientific research and analysis of pearls and gemstones, and the provision of ongoing training programmes in the field of gemmology. To manage the process, DANAT appointed Kenneth Scarratt, a world renowned gemmologist as its CEO. Mr. Scarratt also serves as President of CIBJO's Pearl Commission. "One of our guiding principles in CIBJO is our conviction that the jewellery and gemstone business, if responsibly and professionally managed, has the capacity to generate economic opportunity, growing existing markets and creating new ones where they never existed," said Dr. Cavalieri. "For that to happen, however, the proper infrastructure and a wealth of knowledge is required. This is what we are seeing in Bahrain. Its impact on the markets in the Gulf region, the Middle East and far beyond is likely to be tremendous." During his meetings in Bahrain, DANAT Chairman Yaser Alsharifi and Mr. Scarratt proposed that Bahrain's capital of Manama host the CIBJO Congress in 2019. "We were honoured to receive the invitation, which will be brought for discussion before the CIBJO Board of Directors," Dr. Cavalieri said. "It is an event that brings together the leadership of the international jewellery and gemstone industry from around the world, and it certainly be an excellent showcase for what is being built and achieved today in Bahrain." 

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GJ sector eye on US$100bn size by 2025!

ust concluded Manthan 2018 also moved up to ink & launch their Vision 2025 for GJ (Gemn-Jewellery) Sector. According to Nitin Khandelwal, Chairman, GJC, “With Manthan 2018, we shall launch our Vision 2025 program for an indigenous gems & jewellery sector sized at USD 100 billion in sync with our Prime Minister’s Vision of promoting Indian handcrafted jewellery and designs.” India’s GJ business is a sterling example of Makein-India contributing around 7% of the country’s GDP. The sector provides jobs to more than 46 lakh people of the country, thus making significant contribution to the country’s socioeconomic framework. GJC has a roadmap for adding 2 million (20 lakh) new jobs in the gems & jewellery sector including 40% of the new jobs for women. On the growth road map, Manthan 2018 also referred that, West Bengal Government has given land sized 25,000 sq. ft for a gem & jewellery park at Ankurhati, Domjur, and Maharashtra Government proposes gem & jewellery park on 25-acre land in Navi Mumbai. “Manthan 2018 will be the first amongst many more by GJC to usher in a new phase of evolution for Indian jewellers especially in terms of showcasing our design capital, marketing, distribution and merchandising capabilities” said Nitin Khandelwal. Process of evolution is necessary for any development-n-growth! GJC’s Manthan 2018 conclave turned to be one of its kind initiative for the benefit of the GJ industry. Participants learnt the insights about how to grow business while learning the ways and means to implement and successfully execute it to earn multiple benefits. It has become an annual platform for knowledge sharing and the flagship event will help in promoting a common platform to share expertise & knowledge. The conclave set the 2025 Growth Vision for India’s gems & jewellery sector, a one-of-its-kind initiative, which will provide insights to jewellers about how to grow their diverse businesses in a sustainable manner; implement and successfully execute their strategies to earn multiple benefits. 

STONE TALK

Two of the Largest Diamonds at Sotheby’s!

n February this year, Sotheby’s Diamonds, a retail boutique specialising in the world’s finest diamonds, unveiled an extraordinarily rare 102.34 carat white diamond. The only known round brilliantcut diamond over 100 carats that is perfect according to every critical criterion, the stone – described by Patti Wong, Chairman of Sotheby’s Diamonds, as a “masterpiece of nature” – has now found a buyer.

Speaking about the sale of the 102.34 carat diamond, Patti Wong, Founder and Chairman of Sotheby’s Diamonds, said: “When the new custodian of this stone first beheld it, they were – like everyone else who has seen it – completely captivated. It is hard to believe that something so ancient (these stones are as old as the earth itself) can be so alive, so full of fire and blinding brilliance. A rarity in the mythical world of 100-carat stones, this diamond is a wonder of nature and of man’s ability to shape nature’s creations into an object of ultimate beauty”

While the identity of the new owner cannot be revealed, the stone was purchased for a price per carat, which far exceeds that for any colourless diamond sold at auction (the current auction record price per carat for a white diamond is US$260,252, set at Sotheby’s in Hong Kong in 2013). Coinciding with the sale of this exceptional stone, Sotheby’s has also sourced – for sale at auction in Geneva this May – two highly impressive white stones, each one weighing over 50 carats, and both of the same extraordinary colour and clarity as the 102.34 carat stone sold privately through Sotheby’s diamonds. The first of the two stones is a round, brilliant cut diamond which, at 51.71 carats, ranks as the second largest D Flawless brilliant-cut diamond ever to have appeared at auction. The second stone, similarly perfect, weighs 50.39 carats but is oval, rather than round; it

too is the second largest D Flawless diamond of its shape ever to have come to auction. The two diamonds will be highlights of Sotheby’s flagship sale of Magnificent Jewels and Noble Jewels in Geneva on May 15. The round brilliant-cut diamond is estimated at CHF 7.8 – 9 million (US$ 8.2 – 9.5 m / GBP 6 – 7 m / EUR 6.7 – 7.7 m) and the oval diamond will be offered with an estimate of CHF 7 – 7.6 million (US$ 7.3 – 8 m / GBP 5.3 – 5.8 m / EUR 6 – 6.5 m).

Looking ahead to the Geneva sale, David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, commented, “Having witnessed the enormous effect of the 102.34 carat stone on those who saw it, we are now thrilled to bring to the market two more truly exceptional stones, both of which are among the largest, highest quality white diamonds ever to come to auction. Diamonds like these have always captivated collectors and connoisseurs alike and continue to do so today.” The two diamonds are unveiled in London & where they are going on public view until 10 April. This will then be followed by an international tour & will open for public view in New York during 13 - 17 April. Sa would be held in Geneva on 15 May under Magnificent Jewels & Noble Jewels! 

A sparkling range of earrings

remium silver jewellery brand Izaara ruminates the flamboyance of summer in an enticing range of earrings. Each design is crafted in sterling silver and accentuated with Swarovski crystals with semi-precious stones in oceanic nuances that adds to the vibes of an ideal summer afternoon at the beach. Expressive but not expensive, each distinct piece of this collection is crafted in motifs of floral and foliage, encrusted with Swarovski crystals and accentuated with semi-precious stones in symmetrical shapes. Overall, the aesthetics of these minimalistic earrings are precious but placed a price that is not premium. Just like every jewel piece from the house of Izaara, this collection is monogrammed with letter ‘I’ as an identification mark, made with tarnish-free alloy and is 100% skin safe. The laudable collection is an apt for adornment during social events and can also be a great companion for travel purpose. This collection is available at Phoenix Market City, R City Mall, Seawoods Grand Central Mall, Nerul Node, Phoenix Market City, PVR Phoenix Mall, Growel’s 101, Shopper’s Stop and WHP Jewellers. 

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TRADE NEWS

NA funds dominated global inflows!

lobal gold-backed ETFs collectively added 22.5 tonnes (t) of gold during March, increasing their holdings to 2,415t (US$102.8bn). While the price of gold finished the month relatively flat (+46bp), a significant portion of inflows was the result of periods of sharp price rallies on strong volume, especially in the second half of March. Gold’s price performance and volatility were driven by global trade tensions, a weaker US dollar, and weak stock market performance. As stock markets tumbled, investors moved into bonds and gold. Gold is one of the best performing asset classes this year, having rallied 2.5%. Global inflows were dominated by North American (NA)-listed funds which added 21.5t (US$917mn, 1.7% AUM) to their holdings during March while Asian funds added assets for the 3rd consecutive month (3.1t, US$141mn, 3.5% AUM) and funds listed in Europe and other regions had muted net flows!

Individual flows: iShares Gold Trust has grown 12% on the year adding 27.9t of assets: SPDR Gold Shares and iShares Gold Trust were the primary drivers of North American and global inflows accumulating 15.1t (US$642mn, 1.8% AUM), and 5.4t (US$230mn, 2% AUM), respectively, during March Bosera Gold, in China, continues to dominate Asian flows, adding 1.9t (US$81mn, 17% AUM) on the month Gold Bullion Securities, in London, continues to lead European and global outflows losing 1.5t (US$61mn, 1.7% AUM) during March.

Year-to-date trends: Global gold-backed funds added 47.3t of gold over the Q1: North American funds have accounted for 85% of total net inflows on the year, driven by iShares Gold Trust (27.9t, US$1.2bn, 12% AUM), and SPDR Gold Shares (8.6t, US$396mn, 1.1% AUM). Asian funds have grown assets by 13.4% through the first quarter, driven almost entirely by Bosera Gold. The fund has grown 40% on the year adding 11t (US$470mn). Europe has lost its 2017 asset-gaining momentum having slight outflows of 1.2t (US$171mn), highlighted by Gold Bullion Securities which has lost 10.6t (US$467mn, 12% AUM) on the year! 

SDGC opens today

alon des Grandes Complications (SDGC) is an annual B2C exhibition designed to provide the fine watch making sector and the independent watchmakers with a unique opportunity to meet the Middle East watch collectors, connoisseurs, and the high-net-worth individuals in the Kingdom of Saudi Arabia and the region at large. SDGC is an exclusive gathering held in a comfortable and friendly environment where visitors will discover the world's best and latest watch creations and novelties. Now in its 5th successful year, the SDGC is the largest and most prestigious Grandes Complications Horlogerie Exhibition in the Middle East, showcasing world famous brands that are examples of fine watchmaking. The SDGC will take place between April 9 – 12, 2018 at the Hilton Hotel, the leading hotel in Jeddah, KSA. 

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Zimbabwe signs $4.2bn platinum deal

ccording to Angop, a Cypriot investor signed a $4.2 billion deal on Thursday to develop a platinum mine and refinery in Zimbabwe, an investment that President Emmerson Mnangagwa said showed the country was “open for business”. Signing the agreement with Cyprus-based Karo Resources, Mines Minister Winston Chitando said work would start in July, with the first output of platinum group metals expected in 2020, aiming to reach 1.4 million ounces annually within three years. Located in the Mhondoro-Ngezi platinum belt, west of Harare, where Impala Platinum Holdings has operations, the project will include a coal mine and power station to produce electricity for the smelter, and should employ 15,000 people when fully implemented, according to Karo head Loucas Pourolis. Keen to revive the mining sector after years of reticence by foreign investors during Robert Mugabe’s rule, President Mnangagwa said the deal was a signal things had changed since his ascendancy after Mugabe’s ousting in November. “Zimbabwe is open for business and whoever stands in the way, hurting business in this country, will fall. It is not business as usual anymore, things have to change,” Mnangagwa said at the signing ceremony. The project was first mooted six years ago but had been held back by government red tape and “other unnamed vested interests, which are corrupt interests,” he said. 

IN FOCUS “Akshaya Tritiya has always brought a positive, festive spirit to the industry and the business as a whole. Now more than ever, it is time to look at the future with a progressive viewpoint. Having said that, we are excited about Akshaya Tritiya and are putting our best foot forward with some fantastic jewellery designs in gold and diamonds” says Mr Samir Sagar, Director, Manubhai Jewellers. “This is the season for gold jewellery to flourish, but we are also hopeful towards the performance of diamond jewellery this Akshay Tritiya” he adds. In the row Mr. Vaibhav Saraf is also expecting positive sales! Vaibhav,

Estimating Akshay Tritiya growth of 25%

nce again trade showcases are staring at Akshay Tritiya 2018! Last year over all the Tritiya had been grew by 30% YoY. Though this year’s estimate looks little lower than the 2017 yet expectations are more to perform. Just concluded Manthan 2018 vibrated jewellery fraternity, global trade wars scenario & metal demand behaviour as well as good sentiment with buyer are the key & that may rock over the estimate, surprisingly may go beyond last year’s growth! Let’s seen the Tritiya 2018! According to Mr Aditya Pethe, Director, WHP Jewellers, “We are anticipating a good demand this Akshay Tritiya with an expected increase of 15-20% in sales this year. As the gold prices have increased in this week, we feel it will reinstate the consumer’s faith into the category. This is the season where consumers mostly buy gold Jewellery and keeping this in mind we have launched a Gold Nath Collection which will boost our sales this Akshay Tritiya.” Mr Ishu Datwani, Founder, Anmol says, “We are expecting at least 25-30% increase in sales this Akshaya Tritiya as compared to last year.” He adds further, “Akshaya Tritiya is considered the second most auspicious day after Dhanteras for buying gold or jewellery. We are expecting good sales this Akshaya Tritiya, especially for classic diamond jewellery & gold temple jewellery. This year, Akshaya Tritiya falls during our annual Anniversary Sale period in April. As part of our 32nd Anniversary promotion, we would be offering upto 100% discount on making charges on Diamond & Gold jewellery and fabulous gifts with every purchase - which will give an additional boost to Akshaya Tritiya sales. "

Director, Aisshpra Gems and Jewels says, “During Akshaya Tritiya, we are expecting positive sales as compared to last year, the reason being the upcoming wedding season in summers. The wedding season will bring in bookings for bridal and wedding Jewellery. Even as the overall market sentiment is positive, the gold prices is likely to put marginal effect on consumer demand for heavy Jewellery. According to Ms Tanya Rastogi, Director, Lala Jugal Kishore Jewellers, Well, month of March has been slow over all. Due to the Nirav Modi Incident, we have seen a shift in trend where consumers have started opting for gold over diamonds as they are sceptical. One more shift that we have noticed is, that they want to only shop with family jewellers who have been in the market since generations and avoid going to the newly emerged brands. Being a family jeweller, this shift has improved our sales. Akshay Tritiya is one of the major gold buying days of the Hindu calendar as it is auspicious. “We are expecting a good demand of gold jewellery especially amongst those who are buying as a Shagun or investment. However, consumers who are buying or booking wedding jewellery are still expected to buy jadao and uncut jewellery as it is more design oriented and adds the drama quotient. Temple jewellery, being gold based and design oriented has become popular amongst the brides as it is a win- win. We are hoping this Akshay Tritiya to bring back the shine to the sector” said Tanya. Mr. Abhishek Chanda, Director, Kalasha Jewels- A Unit of Caps Gold says, Akshay Tritiya was always an auspicious occasion to purchase gold. But now with increased awareness about Akshay Tritiya south Indian citizens have made it a vital occasion and has camouflaged in its culture and it always brings a positive spirit to the gems and Jewellery industry as a whole. “Last year there were ups and downs in the gems and Jewellery industry, we are expecting the sales to be revived this year .We are promoting statement gold and diamond Jewellery for the season as they have been popular amongst our clients” Abhishek says for the Tritiya 2018! 

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TRADE NEWS

Digital Initiative for Ease of Export Suresh Prabhu launched digital initiatives by EIC

nion Commerce and Industry and Civil Aviation Minister, Suresh Prabhu today launched digital initiatives by Export Inspection Council (EIC) for ease of export at New Delhi. Speaking on this occasion the Minister said that India's potential for agricultural and food export will get a great boost due to these digital initiatives. EIC is the official export certification body of Government of India and has launched this flagship project of Digital India Initiative to keep pace with changing dynamics of the world.In order to continue the vision for credible inspection and certification and to strengthen the confidence on Indian produce, three portals have been developed to reduce transaction time and cost in a transparent manner. The portals not only provide an opportunity for ease of export but also plays an important role in the Go Green initiative by reducing paper usage and

saving millions trees. To provide fast, efficient and transparent services for ease of doing business in all sectors the complete export food chain has been integrated in this digital platform. Primary production, chain catch, aqua culture pond, dairy farms and apiaries are all linked. Processing units, testing laboratories, official controls and exports have complete traceability. One lab one assessment portal provides unified approach to all stakeholders like accreditation bodies, regulators and laboratories by bringing them together on a common platform. Simplified procedures for granting joint certification and joint decisions helps in reducing cost, time and multiplicity of assessment. The Export Alert Monitoring portal monitors non compliances raised by importing countries. The portal will enable monitoring of alerts and action taken by multiple organizations involved in initial certification in the food safety & biosecurity

and analysing the trend, understanding the trade barriers to reduce the alerts and enhance the export trade. EIC has worked towards building the analytical capability for the country by providing accredited Proficiency Testing (PT) providers at Mumbai, Kolkata and Chennai byreducing dependency on foreign PT providers and ease of access.Minister of State, Shri C.R. Chaudhary along with Commerce Secretary, Rita Teaotia, were also present on the occasion. 

Alrosa awarded technical solutions! Alrosa summed up the results of the competition on resumption of Mir deposit

lrosa summed up the results of the competition for projects on the resumption of works at the Mir deposit Alrosa, the world leader in diamond mining, summarized the results of the final stage of the competition for projects on the resumption of mining works at the Mir pipe deposit. The competition committee awarded two projects with the second place. Another project took the third place. The technical solutions proposed will be used during the development of the mining works resumption concept. 10 out of 33 projects from the second stage came through to the final part of the competition. Their authors presented their works at the meeting of the competition committee headed by Igor Sobolev, First Deputy CEO Executive Director of Alrosa. All projects were evaluated from the standpoint of their scientific and technical as well as technological validity, degree of readiness to be commissioned, compliance with the requirements of industrial safety for mining operations, feasibility at the existing modern level of development of industry and technology, economic efficiency, and the completeness of the proposed solution development. “The basic concept of these technical solutions is to exclude the ingress of groundwater into existing mine workings of the Mir mine. It is possible to resume mining at the Mir mine only after the creation of a security pillar to prevent the ingress of brines from the Meteger-Ichersky Water-Bearing Complex (MIWBC) into the existing mine workings system. Bharat Diamond Week | April - 2018 | HZ | 144

This is due to the fact that a significant portion of workings has been performed with halogen-carbonate rocks,” says Andrey Cherepnov, Chief Engineer of Alrosa and deputy chairman of the competition committee. “In the opinion of the committee, the proposed solutions are the most acceptable from the viewpoint of safety of mining operations resumption on the Mir pipe and are the least expensive. At the same time, none of the proposed solutions can be considered exhaustive, that is, solving the problem as a whole. As such, we did not award the first place. Our next task is to bring together the most successful technical solutions in order to propose a single concept for the resumption of mining operations based thereon.” 

TRADE NEWS

EGF scheduled in Switzerland To be held during 17-19 April 2018, Zurich

osted each April in Zurich, Switzerland, the European Gold Forum (EGF) is Europe's most prestigious precious metal equities investment forum. The invitation-only event is attended by Europeanbased money managers and institutional investors, as well as buy- and sell-side analysts from around the world. The European Gold Forum offers an unparalleled representation of private and publicly traded precious metal equities spanning all stages of production, development, and exploration. The Gold Forum does not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated gold related products or any other regulated products, securities or investments. The Gold Forum and the information and materials presented at the Gold Forum do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated gold related products or any other regulated products, securities or investments, including, without limitation, any advice to the effect that any gold related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor.

A decision to invest in any regulated gold related products or any other regulated products, securities or investments should not be made in reliance on any of the information or materials presented or obtained during the Gold Forum. Organiser of the forum the Denver Gold Group says, “ Before making any investment decision, prospective investors should seek advice from their financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.” 

Alrosa sales worth USD 559.5 million in March!

lrosa Group, the world leader in diamond production, announces diamond sales results for March and three months of 2018. In this March, Alrosa Group sold USD 559.5 million worth of rough and polished diamonds. Rough diamond sales by value amounted to USD 550.3 million, polished diamond sales – USD 9.1 million. Alrosa’s total diamond sales in the first quarter 2018 amounted to USD 1.606 billion. Rough diamonds were sold for USD 1,582 billion, polished diamonds – for USD 23.7 million. “In January-March, world markets saw higher demand for medium and largesize rough diamonds compared to the same period last year. There was a slight seasonal cooling off in demand in March. However, good results of special size diamond auctions (over 10.8 carats) ensured higher sales this month compared with February 2018. Whereas it should be noted that at the end of the first quarter rough diamond stock approached the technological minimum level,” commented on the sales results Alrosa Deputy CEO Yury Okoemov. 

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