(Founder, Infosys Foundation) Sudha Murthy writes:
In life's journey, we all meet strange people and undergo many experiences that touch us and sometimes even change us. If you have a sensitive mind, you will see your life too in the vast storehouse of stories. For me, it is something closest to my heart. Initially, I was a mother to it but somewhere along the line, it has become the mother and I the child.
Useful link:
www.infosys.com
Tuesday, June 19, 2007
India’s Gem Of A Challenge To Belgium & Israel
(via Times News Network) K G Narendranath writes:
A committee comprising the Central Board of Direct Taxes and the commerce ministry is working on a tax regime that will address the complex valuation issues peculiar to the $17.5-billion gems and jewellery industry that thrive on exports.
However, the exercise, which follows a Budget 2007 announcement, is likely to fall short of a complete shift to turnover-based taxation, as was mooted by the commerce ministry and the industry earlier. According to sources, what is being considered is a “simpler tax assessment scheme” which will factor in the reality that it is difficult to lay down standard input-output norms for this industry.
In the last Budget, the import duty on cut and polished diamonds was knocked off, with a view to giving a fillip to the efforts to make India a global diamond trading hub like Belgium and Israel. Currently, even as India’s diamond cutting and polishing abilities are doubtless the best in the world and cost of such processing is one-fifth of diamond-rich South Africa’s, the country’s huge dependence on imports for rough diamond is preventing it from becoming a trading hub.
Also, the present tax on income is onerous because of grossly fallible assessment. The Budget decision to let duty-free import of cut and polished stones has proved to be a shot in the arm for the sector. A shift to turnover-based tax is the next logical step, which would go a long way in developing India as a global diamond trading hub.
Countries which are serious players in diamonds have tax regimes compatible with this industry’s inherent disinclination to stick to standard value addition norms for tax purposes. It is globally appreciated that it is difficult to gauge value addition in diamonds. Dubai and China keep very low taxes on diamonds. Many other countries, including Belgium, which is the largest diamond trading hub with exports of $23 billion a year, have turnover tax instead of income tax on diamond businesses.
There are countries which tax diamond traders’ income based on presumptive valuation to avoid the rigorous and erroneous valuation that could stifle the industry. It is clear that turnover-based taxation addresses valuation issues better than income tax. As India’s policymakers envision the country becoming as global diamond trading hub, they don’t need to worry about a revenue drain. A sudden increase in the industry’s turnover (the sector is growing at a CAGR of 20% even now) would enhance tax revenue.
Even though global diamond companies like Rio Tinto and De Beers operate in India and are keen to tap India’s cheap and highly skilled processing ability, they still don’t augment their investments in great measure, as the country is yet to be a trading hub. Traditionally, the domestic industry has confined itself to processing of rough diamonds imported from Australia and SA into cuts and polished diamonds, and exporting these items to a large number of countries including the US and the EU. Cheaper imports of cut diamonds have now enabled greater product differentiation and augmented trade with or without major value addition.
More info @ http://economictimes.indiatimes.com/Indias_gem_of_a_challenge_to_Belgium__Israel/articleshow/2129877.cms
A committee comprising the Central Board of Direct Taxes and the commerce ministry is working on a tax regime that will address the complex valuation issues peculiar to the $17.5-billion gems and jewellery industry that thrive on exports.
However, the exercise, which follows a Budget 2007 announcement, is likely to fall short of a complete shift to turnover-based taxation, as was mooted by the commerce ministry and the industry earlier. According to sources, what is being considered is a “simpler tax assessment scheme” which will factor in the reality that it is difficult to lay down standard input-output norms for this industry.
In the last Budget, the import duty on cut and polished diamonds was knocked off, with a view to giving a fillip to the efforts to make India a global diamond trading hub like Belgium and Israel. Currently, even as India’s diamond cutting and polishing abilities are doubtless the best in the world and cost of such processing is one-fifth of diamond-rich South Africa’s, the country’s huge dependence on imports for rough diamond is preventing it from becoming a trading hub.
Also, the present tax on income is onerous because of grossly fallible assessment. The Budget decision to let duty-free import of cut and polished stones has proved to be a shot in the arm for the sector. A shift to turnover-based tax is the next logical step, which would go a long way in developing India as a global diamond trading hub.
Countries which are serious players in diamonds have tax regimes compatible with this industry’s inherent disinclination to stick to standard value addition norms for tax purposes. It is globally appreciated that it is difficult to gauge value addition in diamonds. Dubai and China keep very low taxes on diamonds. Many other countries, including Belgium, which is the largest diamond trading hub with exports of $23 billion a year, have turnover tax instead of income tax on diamond businesses.
There are countries which tax diamond traders’ income based on presumptive valuation to avoid the rigorous and erroneous valuation that could stifle the industry. It is clear that turnover-based taxation addresses valuation issues better than income tax. As India’s policymakers envision the country becoming as global diamond trading hub, they don’t need to worry about a revenue drain. A sudden increase in the industry’s turnover (the sector is growing at a CAGR of 20% even now) would enhance tax revenue.
Even though global diamond companies like Rio Tinto and De Beers operate in India and are keen to tap India’s cheap and highly skilled processing ability, they still don’t augment their investments in great measure, as the country is yet to be a trading hub. Traditionally, the domestic industry has confined itself to processing of rough diamonds imported from Australia and SA into cuts and polished diamonds, and exporting these items to a large number of countries including the US and the EU. Cheaper imports of cut diamonds have now enabled greater product differentiation and augmented trade with or without major value addition.
More info @ http://economictimes.indiatimes.com/Indias_gem_of_a_challenge_to_Belgium__Israel/articleshow/2129877.cms
Identification Of Chocolate Pearls Treated By Ballerina Pearl Co
Cultured pearls with a chocolate color have entered the market from several sources. Analytical tests indicate that the organic components in black cultured pearls may have been partially bleached to create the brown color. The treated cultured pearls can be identified by visual observation, unusual coloration, fluorescence, UV-Vis-NIR reflectance and Raman spectroscopy + trace element composition.
Useful link:
http://ballerinapearl.com
Useful link:
http://ballerinapearl.com
Blue Quartz From Minas Gerais, Brazil
The amethyst mine of Montezuma in the northern part of the Brazilian state of Minas Gerais produces amethyst which can be modified to green by heat treatment. In the trade the treated gems are sold as prasiolite. If the stones are exposed to gamma ray treatment, the stones may turn blue.
The Elphick Factor
Chaim Even-Zohar writes about Clifford Elphick + the acquisition of a small diamond mine in Lesotho + behind the scene developments at the Oppenheimer family + Elphick's rising star status on the South African national business scene @ http://www.idexonline.com/portal_FullEditorial.asp?TextSearch=&KeyMatch=0&id=27155
Useful link:
www.gemdiamonds.com
Useful link:
www.gemdiamonds.com
Diamonds By Linares, Gemesis May Cut De Beers, Rio Tinto Sales
Danielle Rossingh writes about laboratory-created diamonds and its impact + the natural diamond industry concerns @ http://www.bloomberg.com/apps/news?pid=20601087&sid=ax6nfaTs6FKg&refer=home
Monday, June 18, 2007
Schindler's List
Memorable quote (s) from the movie:
Oskar Schindler (Liam Neeson): Look, All you have to do is tell me what it's worth to you. What's a person worth to you?
Amon Goeth (Ralph Fiennes): No, no, no, No. What's one worth to you!
Oskar Schindler (Liam Neeson): Look, All you have to do is tell me what it's worth to you. What's a person worth to you?
Amon Goeth (Ralph Fiennes): No, no, no, No. What's one worth to you!
Vanity Fair Wants You To Love Diamonds And Africa
A correspondent from the UK notes that this month's Bono-produced pro-Africa issue comes bundled with a separate 74-page magazine devoted to diamonds and other "jewellery." It appears to be a UK exclusive. More info @ http://gawker.com/news/diamonds-are-a-magazine.s-best-friend/vanity-fair-wants-you-to-love-diamonds-and-africa-268830.php
The Synthetic Controversy
I really like the analogies. The fact of the matter is synthetic gemstones or created gemstones are going to be with us forever.
Thomas Chatham shares his views:
No other recent discovery has been given so many obstacles to overcome as gems made by man. Yet I can think of really few other commodities and contributions to our field that have given so many people so much pleasure than the millions upon millions of stones that are made by man that are used in jewelry.
The controversy really revolves around those in the business of selling natural stones. They are a bit nervous about what the synthetics may mean to their future. Will the bottom fall out? Will the value of their inventory be reduced to pennies? Should they get into this market or let it pass them by? Can natural and quality synthetics be sold side by side effectively?
There was a suggestion to declare an outright ban on the product. It is my opinion that this would only make the product much more desirable to the undesirables. The industry would go underground and the gems would find their way into natural parcels around the world more frequently with no attempt being made to market them as they are being marketed today with full disclosure as to origin.
It’s not the gemstone that cheats people, it’s the people who cheat people.
The next suggestion was to require producers to add a tell-tale element into the crystal growth that would fluoresce under ultraviolet and signal the observer as to the nature of the material. This is noble concept and one which initially satisfied the fairness of disclosure but violates the 50 + years that Chatham spent in accurately reproducing nature. To include a substance deliberately alien to the natural chemistry of that species is to the purist and the Chatham family a sacrilege. To the part time gemologist-jeweler-appraiser it would be a godsend.
Let's compare the cultivation of flowers with cultivation of crystals. The idea is that when man plants seeds and intervenes in the natural process of growing by supplying special food, adequate water, light, and ideal growing conditions in order to achieve the very best possible results and then reaps a harvest of superior flowers, ‘do you then consider these flowers to be man-made? Or are they synthetic? This is the very problem that has faced all of us with man-made gems for the last 50 years.’ What do you think?
My feelings are that the two are the same in essence, but we have other factors to consider. Should flower shows be only for those flowers plucked from the hillsides and meadows where man has not intervened? Do wild natural flowers command a higher price than those grown by the horticulturists? Is man to be denied the artistic endeavor of trying to improve upon nature by making this world a little better place than he found it? Is that not why man was put upon this earth after all? Certainly the Chatham family has come a long way in fulfilling this dream and in an ethical way.
Thomas Chatham shares his views:
No other recent discovery has been given so many obstacles to overcome as gems made by man. Yet I can think of really few other commodities and contributions to our field that have given so many people so much pleasure than the millions upon millions of stones that are made by man that are used in jewelry.
The controversy really revolves around those in the business of selling natural stones. They are a bit nervous about what the synthetics may mean to their future. Will the bottom fall out? Will the value of their inventory be reduced to pennies? Should they get into this market or let it pass them by? Can natural and quality synthetics be sold side by side effectively?
There was a suggestion to declare an outright ban on the product. It is my opinion that this would only make the product much more desirable to the undesirables. The industry would go underground and the gems would find their way into natural parcels around the world more frequently with no attempt being made to market them as they are being marketed today with full disclosure as to origin.
It’s not the gemstone that cheats people, it’s the people who cheat people.
The next suggestion was to require producers to add a tell-tale element into the crystal growth that would fluoresce under ultraviolet and signal the observer as to the nature of the material. This is noble concept and one which initially satisfied the fairness of disclosure but violates the 50 + years that Chatham spent in accurately reproducing nature. To include a substance deliberately alien to the natural chemistry of that species is to the purist and the Chatham family a sacrilege. To the part time gemologist-jeweler-appraiser it would be a godsend.
Let's compare the cultivation of flowers with cultivation of crystals. The idea is that when man plants seeds and intervenes in the natural process of growing by supplying special food, adequate water, light, and ideal growing conditions in order to achieve the very best possible results and then reaps a harvest of superior flowers, ‘do you then consider these flowers to be man-made? Or are they synthetic? This is the very problem that has faced all of us with man-made gems for the last 50 years.’ What do you think?
My feelings are that the two are the same in essence, but we have other factors to consider. Should flower shows be only for those flowers plucked from the hillsides and meadows where man has not intervened? Do wild natural flowers command a higher price than those grown by the horticulturists? Is man to be denied the artistic endeavor of trying to improve upon nature by making this world a little better place than he found it? Is that not why man was put upon this earth after all? Certainly the Chatham family has come a long way in fulfilling this dream and in an ethical way.
The Science, Not Art, Of Management
(via Business Standard) Suman Srivastava writes:
What don’t they teach you at B-school? I have a two-word answer to this question: street smartness.
Business school taught me how to read balance sheets, but didn’t tell me how to motivate people to give their best. It taught me how to structure the organisation for maximum productivity, but not how to deal with a person who thinks her boss is a creep. My management degree taught me how to create an excellent marketing strategy, but not how to sell it to a client who is insecure about his job.
Business schools tend to be very left-brained. Very analytical, quantitative and structured. Which is a good thing because the Indian education system is not very good at teaching us to be analytical, quantitative or structured. The school system basically teaches us to learn by rote. The best business schools force you to unlearn that.
In the process, they tend to put the quantitative approach to a problem on a pedestal, ignoring the qualitative and “feel” aspects of managing people. If management is both a science and an art, then B-schools teach the science but ignore the art.
Life, unfortunately, is all about art. Success comes to those who learn to deal with people best. Those who learn to understand the fears and motivations that people have, understand their joys and sorrows. The role of a leader is to inspire, provide direction and keep people motivated. Other professional skills are taken for granted.
One can argue, perhaps with justification, that nobody can teach the art. That may be true, but where business schools tend to err is in leaving their management students with a feeling that the art doesn’t really matter.
I had to wait until my hair turned grey before I understood that the art does matter. But perhaps, I am just a slow learner.
Suman Srivastava graduated from Indian Institute of Management, Ahmedabad, in 1987
I think it was an inspiring article. I liked it.
What don’t they teach you at B-school? I have a two-word answer to this question: street smartness.
Business school taught me how to read balance sheets, but didn’t tell me how to motivate people to give their best. It taught me how to structure the organisation for maximum productivity, but not how to deal with a person who thinks her boss is a creep. My management degree taught me how to create an excellent marketing strategy, but not how to sell it to a client who is insecure about his job.
Business schools tend to be very left-brained. Very analytical, quantitative and structured. Which is a good thing because the Indian education system is not very good at teaching us to be analytical, quantitative or structured. The school system basically teaches us to learn by rote. The best business schools force you to unlearn that.
In the process, they tend to put the quantitative approach to a problem on a pedestal, ignoring the qualitative and “feel” aspects of managing people. If management is both a science and an art, then B-schools teach the science but ignore the art.
Life, unfortunately, is all about art. Success comes to those who learn to deal with people best. Those who learn to understand the fears and motivations that people have, understand their joys and sorrows. The role of a leader is to inspire, provide direction and keep people motivated. Other professional skills are taken for granted.
One can argue, perhaps with justification, that nobody can teach the art. That may be true, but where business schools tend to err is in leaving their management students with a feeling that the art doesn’t really matter.
I had to wait until my hair turned grey before I understood that the art does matter. But perhaps, I am just a slow learner.
Suman Srivastava graduated from Indian Institute of Management, Ahmedabad, in 1987
I think it was an inspiring article. I liked it.
No Bonnie and Clyde
Chaim Even-Zohar writes about US$28 million worth of stolen rough, cut and polished diamonds from ABN AMRO bank by an imposter named Carlos Hector Flomenbaum + the identity theft in diamond business @ http://www.idexonline.com/portal_FullEditorial.asp?TextSearch=&KeyMatch=0&id=27199
Sunday, June 17, 2007
Ocean's Eleven
Memorable quote (s) from the movie:
Basher (Don Cheadle): Hang on a minute, hang on... we could use a pinch.
Danny (George Clooney): What's a "pinch"?
Basher (Don Cheadle): A pinch is a device which creates, like, a cardiac arrest for any broadband electrical circuitry. Better yet, a pinch is a bomb - now, but without the bomb. See, when a nuclear weapon detonates, it unleashes an electromagnetic pulse which shuts down any power source within its blast radius. Now that tends not to matter in most cases, because the nuclear weapon usually destroys anything you might need power for anyway. But see, a pinch creates a similar electromagnetic pulse, but without the fuss of mass destruction and death. So instead of Hiroshima, you'd be getting the seventeenth century.
Basher (Don Cheadle): Hang on a minute, hang on... we could use a pinch.
Danny (George Clooney): What's a "pinch"?
Basher (Don Cheadle): A pinch is a device which creates, like, a cardiac arrest for any broadband electrical circuitry. Better yet, a pinch is a bomb - now, but without the bomb. See, when a nuclear weapon detonates, it unleashes an electromagnetic pulse which shuts down any power source within its blast radius. Now that tends not to matter in most cases, because the nuclear weapon usually destroys anything you might need power for anyway. But see, a pinch creates a similar electromagnetic pulse, but without the fuss of mass destruction and death. So instead of Hiroshima, you'd be getting the seventeenth century.
IDEX Online Research: A Very Savvy Investor Validates Jewelry Industry Future
Ken Gassman writes about Warren Buffett and his highly successful Berkshire Hathaway investment company + the purchase of retail jewelers Borsheim’s Jewelry, Helzberg Diamond Shops and Ben Bridge Jeweler, and now, Aurafin and Bel-Oro, both major gold jewelry suppliers + Buffett's investment philosophy @ http://www.idexonline.com/portal_FullNews.asp?id=27675
New York’s Rapaport Seeks Approval For Trading In Diamond Futures
Saijel Kishan writes about the Rapaport Group, a New York-based provider of diamond prices, who is seeking approval from the US Commodity Futures Trading Commission (CFTC) to start the world’s first diamond futures contracts @ http://www.livemint.com/2007/06/12011419/NYs-Rapaport-seeks-approval-f.html
Alas, Poor Art Market: A Multimillion-Dollar Head Case
Alan Riding writes about British artist Damien Hirst's platinum human skull covered in 8,601 diamonds + its value: £50 million, or close to $100 million @
http://www.nytimes.com/2007/06/13/arts/design/13skul.html?_r=1&8dpc&oref=slogin
http://www.nytimes.com/2007/06/13/arts/design/13skul.html?_r=1&8dpc&oref=slogin
The Capping Mechanism In Name Only
Chaim Even-Zohar writes about the rising sense of frustration regarding DTC sight application processes + the ceiling on an applicant's sight allocation + the misunderstandings of the rules of the game @ http://www.idexonline.com/portal_FullEditorial.asp
Saturday, June 16, 2007
Ocean's Thirteen
Memorable quote (s) from the movie:
Linus Caldwell (Matt Damon): He owns all of the air south of Beijing.
Abigail Sponder (Ellen Barkin): The air?
Linus Caldwell (Matt Damon): Let me put it to you this way: try building something taller than three feet in the Tiangjin province, and see if his name comes up.
Linus Caldwell (Matt Damon): He owns all of the air south of Beijing.
Abigail Sponder (Ellen Barkin): The air?
Linus Caldwell (Matt Damon): Let me put it to you this way: try building something taller than three feet in the Tiangjin province, and see if his name comes up.
Marketing In The 21st Century
The author highlights the competitive nature of new version of gem and jewelry businesses + ways to improve customer satisfaction + challenges in maintaining high standards + reaching specialized and niche markets.
Pam Welborn (The Color Source, Texas, USA) writes:
In the 21st century, successful companies will have to bring their products to market efficiently. In the jewelry industry, this trend will favor those companies whose capabilities include gem rough sourcing, as well as in-house cutting, design, and manufacturing operations, and even distribution channels. Such companies can control quality and cost at every stage of production and will provide savings in terms of lower per-unit costs. Also, by controlling the design function and by associating with trusted partners in foreign markets, such companies can tailor their jewelry products to reflect the distinctive cultural designs of those markets for greater acceptance and sales. The Internet can also be used to post an online catalog of jewelry items, sell the products, and facilitate a rapid delivery service to the targeted market.
The increased efficiency of all these efforts will shorten the delivery time from the manufacturing center to the end consumer. A higher level of contact with the consumer using the Internet and call centers, located in favorable labor countries, will decrease response time and increase customer satisfaction.
Such companies are Internet savvy, computer driven, and focused on high quality standards of manufacturing. They are able to produce jewelry items for a specialized, niche market as well as produce a limited edition or an exclusive design for a national market. Global opportunities are limited for most companies. Therefore, a major upheaval in the next 10 years is likely as the jewelry industry adapts to this new paradigm.
Pam Welborn (The Color Source, Texas, USA) writes:
In the 21st century, successful companies will have to bring their products to market efficiently. In the jewelry industry, this trend will favor those companies whose capabilities include gem rough sourcing, as well as in-house cutting, design, and manufacturing operations, and even distribution channels. Such companies can control quality and cost at every stage of production and will provide savings in terms of lower per-unit costs. Also, by controlling the design function and by associating with trusted partners in foreign markets, such companies can tailor their jewelry products to reflect the distinctive cultural designs of those markets for greater acceptance and sales. The Internet can also be used to post an online catalog of jewelry items, sell the products, and facilitate a rapid delivery service to the targeted market.
The increased efficiency of all these efforts will shorten the delivery time from the manufacturing center to the end consumer. A higher level of contact with the consumer using the Internet and call centers, located in favorable labor countries, will decrease response time and increase customer satisfaction.
Such companies are Internet savvy, computer driven, and focused on high quality standards of manufacturing. They are able to produce jewelry items for a specialized, niche market as well as produce a limited edition or an exclusive design for a national market. Global opportunities are limited for most companies. Therefore, a major upheaval in the next 10 years is likely as the jewelry industry adapts to this new paradigm.
The Emerald Business In South America
Here is an interesting overview on the state of emerald mines and the new business model for the industry.
Andrew Lucas (GIA), Eric Welch (GIA), Jean Claude Michelou (ICA, Colombia), Marcelo Ribeiro (Belmont LTDA, Brazil), Luiz Martins (Stone World, Brazil), Pedro Padua (GIA) and Sergio Martins (Stone World, Brazil) writes:
South America is considered by many in the gemstone industry to be the most important continent for emerald production. Colombia is the number one exporter of emeralds to the United States, and Brazil is also a highly important commercial source of emeralds. This information was obtained during two trips to the mining areas organized by the International Colored Gemstone Association and subsequent correspondence with ICA members.
The techniques used to explore and develop new mines, such as the Piteiras mine in Minas Gerais, Brazil, are typically more common for diamond mines than for colored stone mines. Emerald cutter and wholesaler Stone World of Sao Paulo, Brazil, formed a joint venture with Seahawk Minerals to vertically integrate the operation from mine to cutter to wholesale office. The Belmont mine, also in Minas Gerais, began in a more traditional process for colored stone mines. Emeralds were found on this property, which still operates as a cattle ranch. The Belmont mine began as a highly successful open pit operation, which continues today. The most advanced resources in geological modeling and mine planning have led to the opening of an underground mine to complement the open-pit operation. Belmont has an extensive sorting operation for their rough to meet the needs of their customers.
The La Pita area in Colombia has become the major commercial emerald-producing area in the country, with most production coming from the Consorcio mine. A number of other productive underground mines also exist in this area by the Rio Minero, including the La Pita Tunnel, Cunas, El Totumo, and Polveros mines. The Puerto Arturo mine in Muzo is still in production and under control of the Carranza group, which also has a minor partnership in the Consorcio mine and an influential stake in the Cunas mine. Many of the mine stakeholders in Colombia, whether they have interests in the La Pita, Muzo, Coscuez, or Chivor areas, are also involved in cutting and wholesale sales of polished goods.
Andrew Lucas (GIA), Eric Welch (GIA), Jean Claude Michelou (ICA, Colombia), Marcelo Ribeiro (Belmont LTDA, Brazil), Luiz Martins (Stone World, Brazil), Pedro Padua (GIA) and Sergio Martins (Stone World, Brazil) writes:
South America is considered by many in the gemstone industry to be the most important continent for emerald production. Colombia is the number one exporter of emeralds to the United States, and Brazil is also a highly important commercial source of emeralds. This information was obtained during two trips to the mining areas organized by the International Colored Gemstone Association and subsequent correspondence with ICA members.
The techniques used to explore and develop new mines, such as the Piteiras mine in Minas Gerais, Brazil, are typically more common for diamond mines than for colored stone mines. Emerald cutter and wholesaler Stone World of Sao Paulo, Brazil, formed a joint venture with Seahawk Minerals to vertically integrate the operation from mine to cutter to wholesale office. The Belmont mine, also in Minas Gerais, began in a more traditional process for colored stone mines. Emeralds were found on this property, which still operates as a cattle ranch. The Belmont mine began as a highly successful open pit operation, which continues today. The most advanced resources in geological modeling and mine planning have led to the opening of an underground mine to complement the open-pit operation. Belmont has an extensive sorting operation for their rough to meet the needs of their customers.
The La Pita area in Colombia has become the major commercial emerald-producing area in the country, with most production coming from the Consorcio mine. A number of other productive underground mines also exist in this area by the Rio Minero, including the La Pita Tunnel, Cunas, El Totumo, and Polveros mines. The Puerto Arturo mine in Muzo is still in production and under control of the Carranza group, which also has a minor partnership in the Consorcio mine and an influential stake in the Cunas mine. Many of the mine stakeholders in Colombia, whether they have interests in the La Pita, Muzo, Coscuez, or Chivor areas, are also involved in cutting and wholesale sales of polished goods.
The Missed Boom...
Chaim Even-Zohar writes about the contraction of the rough diamond supply sources + pros and cons of present acquisitions and mergers in the mining world + explanations on non-diamond boom, especially in copper, cobalt, gold, zinc and nickel @
http://www.idexonline.com/portal_FullEditorial.asp?TextSearch=&KeyMatch=0&id=27576
http://www.idexonline.com/portal_FullEditorial.asp?TextSearch=&KeyMatch=0&id=27576
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