At the two-day conference will be attended by ministers from the countries involved in mining, delegates from the mining companies, heads of retail luxury brands, multinational companies, the heads of the various banks and other prominent figures of the diamond industry. Nirmala Sitharaman (Nirmala Sitharaman), Minister of Trade and Industry of India and Minister of Mines of India Piyush Goyal (Piyush Goyal) will be the main guests and keynote speakers at the event.
Commenting on the event, chairman of GJEPC Pravinshankar Pandya (Praveenshankar Pandya) said: "India is the largest diamond producer in the world 93% of the products are exported As our country is a major player on the world market, I believe that it is our responsibility, and I am proud.. the organization of this event, in which we bring together all participants in the global diamond industry on a single platform to discuss the various problems faced by the industry, and to make a statement about the future "Roadmap "."
The conference will be comprehensive, covering all aspects of the diamond pipeline, including production, processing, marketing and retail trade, international finance, an assessment with KP certification of diamonds.
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Singapore state investment company Temasek Holdings Pte decided to support the Singapore Diamond Exchange Investment (Singapore Diamond Investment Exchange, SDiX) through its subsidiary Venture Capital Vertex Venture Holdings, Bloomberg reported.
In a statement SDiX said that investors will be able to trade the single diamonds, as well as parties, or so-called "basket" investment grade stones. Trade will be in electronic form, but maintain the physical inventory of diamonds. First exchange efforts will be made to support the spot trading, and then can be introduced derivatives and exchange-traded contracts.
In SDiX also pointed out that the move is a departure from the centuries-old system in which diamonds are mainly traded on stock exchanges in hand, reminiscent of the usual markets. Investors whose access to prices in the past has been limited, will now have a price reference for assessing the value of diamonds as an asset, are added to SDiX. Exchange officials also noted that Vertex Venture is one of the companies supporting SDiX.
"In the coming days on the stock exchange can be volatile, because for the first time on an exchange of commodities begins diamond trade", - said chairman and founder SDIX Vandenborr Alain (Alain Vandenborre). According to him, in a few weeks to stabilize prices and price target will be achieved, as well as consensus on prices.
One of the first investors in the new exchange became Dzhim Rodzhers (Jim Rogers), the chairman of Rogers Holdings, and Hsieh Fu Hua (Hsieh Fu Hua), Chairman of United Overseas Bank Ltd., the former head of Singapore Exchange Ltd. and former President of Temasek.
Business Exchange hours - from 14:30 until 18:30. Brokers are located in Singapore, Hong Kong, London and Dubai.
"By providing the first ever transparent and open mechanism for diamonds price discovery, market offers a great opportunity for investors to trade these precious stones as a class of investment assets", - says Vandenborr. He adds that the market is completely independent of the diamond industry, and is fully open to regulators.
Vertex owns 19 percent stake SDiX, concluded Vandenborr.
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