Author: Ruchi Singla

Dubai’s Stargems Group has acquired the Koffiefontein diamond mine from Petra Diamonds, marking its third mine purchase in South Africa. This transaction, pending approval from South Africa’s Department of Mineral Resources and Energy, sees Stargems taking on significant responsibilities, including environmental rehabilitation liabilities and the mine’s maintenance costs, previously amounting to $23.1 million for Petra. Acquisition Details Under the terms of the sale, Stargems will provide Petra Diamonds with a “nominal cash consideration”, in addition to assuming the aforementioned financial responsibilities. This move is part of Petra Diamonds’ broader strategy to reduce its operational costs, with the company aiming for…

Authorities in Gauteng are conducting an investigation following a robbery at a jewellery store within Cresta Shopping Mall, in Randburg, Johannesburg. The incident, which took place on Saturday, has prompted a review of security measures by local retailers and the jewellery industry at large. Details of the Incident Police estimate that up to 11 individuals targeted Bello Jewellers, initiating their attack in the middle of the day when the mall was populated with shoppers. According to reports, the group was armed and fired shots within the premises, causing panic among the public. They used tools such as crowbars and hammers…

Jewellex Africa 2024 is set to mark its return in 2024, bringing together industry professionals, buyers, and enthusiasts. Scheduled for September 8th and 9th, the event will be hosted at Johannesburg’s The Wanderers Club, showcasing a broad spectrum of craftsmanship and brilliance.  Organised by the Jewellery Council of South Africa, this year’s exhibition aims to elevate the experience for all attendees, blending a rich legacy with contemporary innovation in the jewellery sector. Connecting Tradition and Modernity This year, the event is set to showcase a wide array of sparkling gems, intricate timepieces, and avant-garde design, ensuring a comprehensive representation of…

EGL South Africa, an independent gemmological laboratory established in Johannesburg in 1980, announces the launch of a unique report dedicated to African gemstones. This initiative aims to showcase the rich gemological heritage of Africa and the laboratory’s commitment to promoting the continent’s natural resources. EGL South Africa: A Brief Overview EGL South Africa has been a part of the South African gemmological landscape for over four decades. Owned entirely by South Africans, the laboratory prides itself on its local roots and expertise in the field of gemmology. It provides a range of services, including diamond grading, gem identification, and the…