IDE President Yoram Dvash: "Today, we are making an initiative come true that we have waited a long time for: the sale of rough at affordable prices to younger diamantaires. We thank the Panford company and Dudi Shiama on carrying out the project."
The Israel Diamond Exchange’s program, in cooperation with Panford (Israel) Ltd., to offer a special allocation of rough diamonds for young diamantaires was officially launched yesterday.
The program, which was originally announced in September 2014 at the initiative of Yoram Dvash, then head of the IDE Industry Committee, makes available small parcels of De Beers rough first hand and at fair prices.
At a ceremony held at Panford’s offices attended by IDE President Yoram Dvash and Deputy President Yehezkel Blum, a group of specially chosen young diamantaires, up to the age of 40, received their first rough allocations.
IDE President Yoram Dvash said, “Today we are realizing an initiative which we have dreamed about for a long time – the sale of rough diamonds at reasonable prices to young manufacturers, in parcels that they can finance. We came to an agreement with Panford to allocate suitable rough at good prices, but we needed to wait to begin the program until rough prices stabilized.”
Panford (Israel) Ltd. General Manager Dudi Shiama said, “When Yoram Dvash proposed this initiative we readily agreed. We are trying to build a track that will create optimal conditions for new manufacturers,” he said. As a special gesture, Panford is providing credit of 70 days for the initial allotment.
