Israel’s Third International Rough Diamond Conference, held on February 11 and 12, 2008, in Tel Aviv was deemed an overwhelming success, by Eli Avidar, Managing Director of the Israel Diamond Institute Group (IDI) which organized the conference.
“This conference was truly a summit of the rough diamond world. We succeeded in bringing together the leading diamond producer companies, most of the African producing countries, exploration and mining companies and major diamond stakeholders to discuss the challenges facing the industry at a crucial time for the industry,” Avidar said.
Amongst the more than participants were leaders of the world’s major diamond producing companies including De Beers Managing Director Gareth Penny, DTC Managing Director Varda Shine, Alrosa Managing Director Sergei Vybornov, Harry Winston Diamond Corporation President Robert Gannicott, Petra CEO Adonis Pouroulis, Gem Diamonds Managing Director Clifford Elphick, Namdeb Managing Director Inge Zaamwani and Mwana Africa CEO Kalaa Mpinga.
African diamond producing countries were represented by Sierra Leone Vice President Samuel Sam-Sumana, Liberian Minister of Land, Mines and Energy Dr. Eugene Shannon, as well as by senior delegations from Namibia and Botswana
Future sources of rough supply were addressed by Rockwell Diamonds CEO Jeffrey Brenner, Stornoway Diamond Corp. CEO Eira Thomas, Shore Gold Senior Vice President George Read and Stellar Diamonds CEO Karl Smithson.
Also speaking at the conference were Israel Deputy Prime Minister and Minister of Industry, Trade and Labor Eli Yishai, Israeli diamantaire Lev Leviev, Director-General of the Diamond Administration of China Li Mu and India’s Gem and Jewellery Export Promotion Council’s Praveen Shankar Pandya.
Amongst the challenges discussed at the conference were beneficiation, rough diamond shortages, future rough supply, profitability in the diamond pipeline, off-shore manufacturing, the global economic situation and developing diamond markets.
IDI Chairman Moti Ganz, speaking at a session devoted to “Producer Strategies,” disputed claims that there is not enough rough in the pipeline. “There is no shortage of rough. But even more than that – we also have plenty of polished. Manufacturers have accumulated stock in an unprecedented volume of $14 – 17 billion,” he said. Ganz called on producers to refrain from the use of tenders and auctions, which he said hurts manufacturers and the rough producers themselves. He also implored producers to spend 3% of sales turnover on generic advertising of diamonds, saying that this must not be left to a single producer.
The highlight of the conference was a Gala Dinner held at the Tel Aviv Port. In the course of the evening former IDI Chairman Simcha Lustig received a Lifetime Achievement Award from the Israeli Diamond Industry, and was honored with a standing ovation by the audience.
At the dinner the IDI League of Honor was launched with presentation of certificates to representatives of the African governments who attended the conference. Recipients included Sierra Leone Vice President Samuel Sam-Sumana; Namibian Diamond Commissioner Kennedy Hamutenya, who accepted the award for Mines and Energy minister Errki Nghimtina; Liberian Mines Minister Eugene Shannon and Botswana’s Chief Minerals Officer Jongman Mooketsy, for the Botswana Minerals Minister Ponatshego Kedikilwe.
The conference was launched with the reopening of the Harry Oppenheimer Diamond Museum in the Israeli Diamond Industry complex, which had undergone a major renovation, transforming it into the world’s most technologically advanced diamond museum.
