Canada’s Embee Diamonds has signed a deal to help found the Diamond and Gold Bourse of Guinea Group (DGBG).
The bourse is a joint effort between the daughter of Saudi Arabia’s King Saud, Ismail El Lakkis, principal of Montreal’s Investissement Royal KSA; Mike Botha, CEO of Embee Diamonds in Prince Albert, Sask.; and various Guinean governmental departments and other stakeholders.
According to a press release, the demand for Canadian diamonds, as well as exceptional and large diamonds from African countries, helped fuel the founding of the bourse and Embee Diamonds’ participation.
DGBG will offer membership to diamantaires who are audited members of the Responsible Jewelry Council (RJC). Once the bourse is operational, it is will apply for membership in the World Federation of Diamond Bourses (WFDB).
Lakkis—who helped facilitate the funding for DGBG—has been named its CEO. Further, he is the personal representative of King Saud’s daughter (who wishes to remain anonymous) in the deal.
In related news, Lakkis and Investissement Royal principal, Rajae Omrane, are in the process of acquiring an equity stake in Embee Diamonds to expand its global footprint. Embee has awarded Investissement Royal exclusive rights in the Gulf states to its proprietary-cut diamond, Sirius Star.
“Over the years, the family-owned Embee Diamonds has carved a niche for itself as a world-class diamond-cutting and polishing atelier,” Lakkis said. “Once obtained, such an investment will fund Embee Diamonds’ immediate and future expansion plans, help honour its commitment to its customers, and greatly increase the availability of its Sirius Star diamonds, especially larger, exceptional stones.
“We couldn’t be more pleased to play a key role in taking the [Sirius Star] to discerning clients internationally. Embee’s reputation for high-precision diamond cutting and design was recently underscored by the cutting of the Esperanza diamond by Mike Botha. Esperanza is the most valuable diamond discovered to date in the United States. This diamond, which is a D-colour, internally flawless with an ‘excellent’ pedigree, is a true masterpiece.”
Botha said he is delighted with the new partnership.
“With the funding through Investissement Royal KSA, we’ll finally be able to give our brand what it deserves in terms of an international footprint and a deep selection of inventory in all sizes, colours, and clarities.”
