In an exclusive with Mr.Anthony Peter, Founder - Trans Atlantic Gem Sales, the New Jeweller Bureau gets to know about the cutting edge technology and highly skilled specialists housed in the company that has gone a long way in evolving the ‘Tenders’ and ‘Auctioning’ business related to the global Diamond Industry. Excerpts:

How does the future look for the Diamond Industry in terms of sustainability and growth keeping in mind the current economic situation? What would be your opinion or advice to the industry members especially mid stream?

Clearly the past few years have been extremely challenging for everybody, and just as we all commenced the recovery following the pandemic, global unrest and economic challenges have once again plunged all economies and industries into another period of uncertainty. The diamond industry is no different and has of course been impacted by the situation along with all other sectors. However, we have an extremely resilient industry which rises to challenges on an ongoing basis. The main challenges currently are clearly the global economic impact on the consumer, the situation in Russia and Ukraine and the effect of significant sanctions which has effectively led to a ban on Russian rough diamonds. Russian diamonds make up around 30% of global supply.

The over-exuberance in both price and demand witnessed in the first 3 months of the year, has now abated, and the inevitable shortages in rough supply have led to reduced production and led to layoffs in the main producing centre of Surat. Prices appear to have stabilized, and the polished markets have all slowed to some degree. I believe that for the remainder of this year the market will remain stable, but that a degree of consolidation within the manufacturing sector is inevitable. Demand for diamond jewellery should continue at a steady pace, as it has previously done in challenging times. Currently the important task for manufacturers will be to secure regular and reliable supplies of non-Russian rough to maintain factory production.

Angola has opened its economy for FDI and a number of companies from the Diamond sector. How do you see Angola moving towards becoming a leading mining, cut and polish economy housing an enviable Diamond Exchange in the near future?

Angola is already a leading producer country with numerous untapped resources, the potential of which have recently been recognised through investment from leading mining companies such as De Beers. Obviously, having a substantial supply of the raw material is the foundation for developing the diamond industry in Angola, as it is access to a sustainable supply of this resource that will encourage the development of a full-fledged localised industry. As such, it is ripe for foreign investment and the establishment of an endto- end local industry. This industry will bring with it all the benefits in terms of employment and job creation within the domestic economy. However, as has been witnessed in countries such as Botswana, this is something of an evolution and can only be successfully established over time. In terms of accessing and encouraging this investment, a significant effort has already been demonstrated by the Angolan Government to ensure the ease of doing business within the country.

Trans Atlantic Gem Sales enjoys a leadership status today when it comes to Diamond Tendering/Auctioning and Sales. Tell us about your partnership with Angola and your advisory role in supporting the Angolan Diamond Exchange?

In February 2022, Trans Atlantic Gem Sales was selected among leading International Tender Houses to assist in the establishment of the Angolan Diamond Exchange and oversee the execution and management of Diamond Tenders in Luanda. This was an immense honour for our company and has helped us gain global recognition as one of the leading tender houses. We are currently working closely with the government and management of SODIAM, and the construction of a dedicated tender facility is underway within the SODIAM building. We have a large customer base of globally renowned manufacturing companies. These companies have expressed significant interest in attending events which will commence during this year. We are obviously very excited about participating in what I feel is a significant step in establishing Angola as a globally recognised diamond centre and forging closer links with all the mining operations within the country.

Can you tell us about the cutting- edge technology that seems to be the backbone of TAGS' tendering, auctioning and sales? Can you also add on the advantage of having technically qualified team members who seamlessly carry out the critical processes in the Organisation?

As you correctly state, the technology behind every tender house is one of the main drivers of success. Trans Atlantic Gem Sales has taken immense pride in our online platform. Unlike many other tender houses, our platform and its intellectual property is fully owned by the company. Therefore, Trans Atlantic Gem Sales provides a significantly greater level of security to Suppliers as opposed to an ‘off the shelf’ platform that is rented on an event basis. We invest in the platform on an ongoing basis, to ensure it is robust and maintains cutting edge technology, with full capability to host both Tenders and Auctions in their varying forms.

Another significant strength within Trans Atlantic Gem Sales is without doubt its staff contingent. All our staff members have many years of experience within the diamond industry. Our Management team members are well known names throughout the industry, having worked at senior levels in a number of the leading mining companies. On the technical, financial, and logistical side we have brought in specialized skills to ensure we stay ahead of technical developments and continuously deliver seamless service to both our Suppliers and Customers.

What are your future expansion plans for expansion keeping in mind the changing diamond trajectory?

Since we commenced business in Dubai in 2017, we have seen steady growth in our operations, sales volumes, and recognition amongst diamond producers worldwide. This has enabled us to forge close relations with several producers/suppliers. Our selection from all the leading Tender/Auction houses by the Government of Angola, has further raised our profile, and as such we have received invitations from new suppliers. We proactively stay in close communication with both leading producers and smaller artisanal suppliers. We are therefore able to present a wide range of rough to an international market and deliver maximum return to our suppliers.