Polished – wholesale and manufacturing
Laurelton Reign Diamonds (LRD) has officially opened a state-of-the-art diamond-cutting and polishing factory in Namibia.
A subsidiary of American luxury jewelry retailer Tiffany & Co, the plant is located in the capital of Windhoek. LRD Chairman Andrew Hart says the aim is for the plant to produce high-quality diamonds. Diamonds are being supplied by the Namibia Diamond Trading Company.
Diamond Trading Company (DTC) Chief Executive Officer Varda Shine provided participants at the World Diamond Congress with an overview of some of the issues the DTC is addressing.
Due to the growing importance of new markets in China and India, the DTC, along with other diamond suppliers, are adapting their production outlook and need to look carefully at the requirements of the new markets.
Indian diamantaires in Antwerp, who fear they may be targets of armed criminals who have targeted the community, may consider moving to Dubai, according to a report in The Times of India.
Indian diamond firms control up to 80 percent of Antwerp's diamond trade, the largest trading hub in the world with an estimated annual turnover of $45 billion, the report said.