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Eyes on diamond talks as Vegas show kicks off

Shiny showcase: The JCK Show is the diamond world’s biggest trade event PIC: JCKONLINE.COM
Shiny showcase: The JCK Show is the diamond world’s biggest trade event PIC: JCKONLINE.COM

LAS VEGAS: The diamond industry's foremost trade show kicked off here on Friday, amidst rising debate as to whether and how its most valuable and longest covenant will be renewed before the end of the month.

Both De Beers and government, whose five-year-long talks for a new sales agreement are set to elapse on June 30, have sent high-powered delegations to the US desert city.

Since the current agreement elapsed in September 2020, both sides have agreed on temporary extensions and technically, could decide to postpone the June 30 deadline.


Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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