Diamonds

Save E-mail Print Most Popular RSS Reprints

Rio Tinto eyes Israel for rough-diamond trade

December 11, 2006

Similar Stories | Topics

Ramat Gan, Israel—A top-level delegation from Rio Tinto, one of the largest mining and natural-resource conglomerates in the world, met with the Israeli Diamond Industry from Dec.6-7 to learn about the industry there and to examine the possibility of expanding its rough-diamond customer base.

The delegation included Rio Tinto Diamonds Chief Executive Keith Johnson, Rio Tinto Diamonds NV Managing Director Steven Hodgson and Rio Tinto Diamonds General Manager for Business Development Timothy Renwick. They were hosted by Moti Ganz, chairman of the Israel Diamond Institute and president of the Israel Diamond Manufacturers Association, and Avi Paz, president of the Israel Diamond Exchange.

According to Ganz, all branches of the Israeli diamond industry promised Rio Tinto full cooperation if it decides to include Israeli companies in its client base. Johnson said that Rio Tinto is now engaged in a review of Diavik's marketing efforts, and that it was likely that the company would come back to Israel after this was completed in late 2007. He said that the company looks to establish relationships with customers who could ensure the most value for its diamonds.

In the past few years, Israel has become a major center for the rough-diamond trade. In 2005, net rough-diamond imports into Israel totaled $5.3 billion, accounting for almost half of all rough imports in the world.

Rio Tinto, which owns three mines—Argyle in Australia (80 percent contracted to Indian customers), Diavik in Canada (together with Aber) and Murowa (a pilot project in Zimbabwe)— supplies about 10 percent of the rough diamonds in the world.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

Diamonds

Industry calling for swift action on Zimbabwe

Jewelers of America is calling on the Kimberley Process to fully and quickly implement a work plan to address the serious concerns surrounding Zimbabwe's non-compliance with the Kimberley Process Certification Scheme, the system designed to keep conflict diamonds out of the international trade, and the reported human rights abuses in the Marange diamond fields. Read More

Sotheby's reports record-breaking sales in Geneva
Diamond symposium focuses on 'new normal'
More Diamonds

More Like This

Israel to hold rough-diamond conference
September 18, 2007 | National Jeweler Network
Trade gives champagne diamonds warm reception
May 06, 2009 | National Jeweler Network
Rio Tinto anything but blue over tender results
April 28, 2009 | National Jeweler Network
Rio Tinto to tender blue diamonds
March 05, 2009 | National Jeweler Network
Leviev again Israel's export leader
January 21, 2009 | National Jeweler Network

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement