The 3rd International Rough Diamond Week commenced on 22 May 2016 at the rough trading hall of the Israel Diamond Exchange (IDE). IDE president Yoram Dvash said he felt a positive atmosphere on the opening day.
“(The positive atmosphere) is the first step in encouraging good business transactions. We’re very pleased to see the large players here. Our center needs them, and they are very happy to hold tenders here. The Israeli Diamond Industry is the major buyer of large rough diamonds; we buy about 80 percent of these goods,” he said.
He also said that he had successfully passed two initiatives to increase transparency in rough diamond transactions at the World Diamond Congress. Sellers now have to inform buyers if the stone has undergone scanning by Sarine’s Galaxy device which reveals internal inclusions. According to him, a resolution was passed calling on global gemological laboratories to adopt special terminology for synthetic diamonds.
Regarding the International Rough Diamond Week, chairman of the event Shai Schnitzer said this year it was expanded to include several new features including an open sales area featuring important Israeli rough importers in addition to regular tenders by big miners.
The diamond event will be held through 26 May 2016.
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