Beyond magnificence and splendor George Kittle Jersey , the world of diamonds evolves on stirred grounds. When the stake is so important, interests collide. But technology develops following its onward course. Here are some interesting off-stage events in the diamond industry and innovations in technology.
De Beers sued by head of the Diamond Bourse
Derek Parsons, the president of the Diamond Bourse of the Southeast United States has filed a lawsuit against De Beers, on the charge of the company's disregard of American competition law. Their Supplier of Choice policy puts the American dealers at a disadvantage. The suit was not launched on behalf of the Miami bourse but on behalf of diamond dealers in America Jimmy Garoppolo Jersey , condemning the criteria on which De Beers makes the sales ? they would sell only to their sightholders, discouraging the non-sightholders and keeping prices artificially high at a non-competitive level.
Diamond mining expands
De Beers holds control of only 50% of the roughs market
Diamond rising prices have stimulated the exploration and mining in more countries such as Canada, Russia, Angola Jerry Rice Jersey , India, Brazil. Nevertheless, about 40% of diamonds still come from Botswana and South Africa. De Beers' control on the rough diamond market was declared to have decreased from 70% to about 50%.
Canada, Russia and West and Central Africa are considered by specialists an important potential diamond source. India and Brazil are prospected by geologists also due to the fact that they are known to have been a diamond source in the past.
The largest diamond reserve of Africa lives in extreme poverty
Although the fourth largest producer in the world by value and the holder of the largest diamond reserves in Africa. Angola's per capita gross national income GNI is estimated at $650 per annum. People' s main means of subsistence is agriculture.
The diamond sector has been seriously affected by the long war and by gem smuggling. Yet it still represents a very important potential driver of economic development. Since 2002 Joe Montana Jersey , when the conflict between the government and the UNITA rebel movement ended, developing the sector has become a national priority and the government has already made changes to the diamond sector regulations. Serious redevelopment and investment is needed in this area. At present, artisanal mining operates in Angola and it brings very little economic benefit to local communities.
Increasing conflict in Russia between diamond cutters and miners
The Russian company Alrosa is the largest diamond miner in the world outside De Beers. Diamond cutters accuse Alrosa of favoring exports and providing larger stones for the foreign market and offering only small-sized diamonds to the internal market. On the other hand, Alrosa says that cutters cannot be allowed to pick the assortment of size they want. The result is that Russian cutters are buying million dollars in rough stones from South Africa each month. Russian manufacturers had a production of $1.1 billion in 2003 Authentic 49ers Hats , and Alrosa is estimated to produce around $2 billion worth rough diamonds this year.
Find-diamonds computer program
Partition Enterprises has been working together with the De Beers company and the University of Queensland to develop a program that calibrates the density separator x-ray sorting machines more accurately, thus maximize the diamond yield. Partition will showcase their products at the Electra Mining 2004 Exhibition in Johannesburg.
De Beers sightholders
Sightholder firms have to satisfy various criteria such as a high degree of expertise in valuing rough diamonds, high experience in cutting and polishing. De Beers has 125 sightholders to whom they assure a monthly direct supply of rough diamonds and from whom they collect around $ 600 million. The privilege of being a sightholder company is carefully preserved, as being a sightholder means being ?on the cards" Authentic 49ers T-Shirts , otherwise the supply of diamonds may become dangerously scarce for that company. That is why the offered diamonds will be eventually purchased regardless of their quality ? the pack diamonds can be argued on but they are very rarely rejected, as the sighthol esale Vapormax 2018[/url] Wholesale Nike TN Shoes