One of UAE’s leading international diamond companies Stargems Group, in collaboration with SACIM SARL (Anhui-Congo Mining Investment Company) has successfully tendered 641,962 carats of high-quality rough diamonds, in the Emirate. On the backdrop of a growing diamond trade in Dubai, Stargems has decided to foray in the diamond tendering business as the company envisions huge potential in the space.
As part of Stargems’ collaboration with SACIM SARL, more than 50 buyers attended the first 5-day event. This tender featured diamonds from SACIM SARL which is a joint venture between the Chinese Investment company AFECC group and the government of the Democratic Republic of the Congo. Each party holds 50 percent of shares in the company. Through a unique sales platform developed by Stargems and SACIM SARL, artisanal manufacturers with smaller/medium size production units are able to buy their goods alongside larger industrial manufacturers.
“Our goal with such tenders, is to promote goods from SACIM Sarl all over the world and attract a multitude of diamond manufacturers and traders,” said Mr. Shailesh Javeri, Chairman, Stargems Group. “The increased number of bidders ensured that SACIM Sarl received the most profitable prices for their diamonds. With our last tender we were able to provide our partner with a 6% increase on their sales value.”
After an overwhelming response from bidders internationally during the first tender, the Congolese Company along with Stargems DMCC showcased superior quality rough diamonds during their second tender. The 5-day commerce from December 9th to December 13th, 2017 was a private showcase for diamond manufacturers, rough diamond traders and other industry professionals.
Mr. Bai Xiangqian, Managing Director, SACIM Sarl said, “Diamond tenders are vital means to generate revenues and assess the true market value of our goods, especially in a place such as Dubai, which has a unique ability to bring producers and consumers together in one place.”
According to Dubai Multi Commodities Centre (DMCC), Dubai is one of the world’s top three diamond trading hubs and recorded a rough diamond imports rise of 16 percent to $6.3 billion in 2016 and the Exchange has contributed significantly to that growth. Two consecutive tenders in 30 days also substantiate the Emirate is growing into a hub for African market as it takes advantage of its transport links to India (world’s biggest importer), strong infrastructure, and relaxed banking procedures
The Stargems Group is an international diamond company that specializes in the sourcing and supply of the finest diamonds to customers across the world. Headquartered in the United Arab Emirates (Dubai), the Group has offices is in Antwerp, India, Hong Kong and Johannesburg. With a legacy of over 30 years in trading of diamonds, Stargems holds prominence in manufacturing, wholesaling and retailing of diamond jewelry.
Stargems is engaged in cutting and polishing diamonds as well as in jewelry manufacturing, branding and retailing. It exports its rough and polished diamonds and its diamond jewelry to various international markets in the Middle East, India, Hong Kong and Belgium. The Group continues to strive forward with plans to have multiple retail outlets and offices all around the world.