RapNet


Rapaport News

 

Rough Markets

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Okavango to Implement GIA’s M2M Tracking

Botswana diamond company will begin offering stones from the program at its July auction.
Jul 1, 2018 7:13 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Okavango Diamond Company (ODC) has signed on to use the Gemological Institute of America (GIA)'s M2M tracking program for some of its rough stones.

ODC’s July spot auction will be its first to feature diamonds that have been evaluated by the GIA, the diamond-grading organization said Friday.

Okavango, a Botswana government-owned rough supplier, is entitled to 15% of production coming from Debswana, a joint venture between the state and De Beers. The remaining output goes to De Beers.

“This is an important step in confirming diamond provenance, which we anticipate will have benefits for our customers, retailers and ultimately consumers,” ODC managing director Marcus ter Haar said Friday. “This pilot will allow those ODC customers who participate the advantage of confirming that the polished outcome of the M2M rough stones they purchase can be certified ultimately as true Botswana origin.”

The GIA launched its M2M pilot at the JCK Las Vegas show last year. The program — developed by GIA scientists — links polished diamonds with their original rough by assessing stones at various stages of production.

In May, the program had moved past the pilot phase, the GIA said, and had a growing number of retailers, manufacturers and producers signing up.
Tags: De Beers., Gemological Institute of America, GIA, M2M, Marcus ter Haar, ODC, Okavango, Okavango Diamond Company, Rapaport News
Similar Articles
Israel Diamond WeekIsrael Diamond Week Goes International
Dec 24, 2019
traders The upcoming International Diamond Week in Israel (IDWI) willfeature...
Profit Margins Improve at $425M De Beers Sale
ABN Amro Tightens Diamond Lending Terms
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us