1/7/10 – Rockwell Diamonds acquires 20% stake in Flawless Diamond Trading House
1 July 2010
Effective from the 1st of June, Rockwell Diamonds, who specialize in high-quality alluvial gemstone production, has bought shares in Flawless Diamond Trading House, previously owned by Mr Hennie van Wyk for around 97, 000 US dollars.
Flawless Diamond Trading House (FDTH) was established back in 2006 to market and sell Rockwell’s diamonds. During this time new diamond legislature had been introduced and Rockwell was attempting to enter onto the South African market.
FDTH was set up act as a marketing and sales facility and to ensure that Rockwell’s produce was sold. They were established in Johannesburg’s infamous ‘Jewel City’, the high-security diamond trading and manufacturing centre and run by the highly experienced diamantaire, Jeffry Brenner and a small marketing team.
FDTH secured the sales agreement between Rockwell and Steinmetz Diamond Group and also provides marketing and sales services to other small South African producers.
Rockwell Diamonds new 20% stake in FDTH will cement their relationship further and give Rockwell access to diamond market and sales trends.
Rockwell’s CEO and President, John Bristow said “Our investment in FDTH provides us with additional revenue flow and will assist the Company better to understand the demand from, and penetration into, an international diamond market which is undergoing progressive change with the emergence of strong new players in India and China. Rockwell will remain focused on being a successful mining company, but every opportunity to monitor and understand its markets and buyers will assist us with short and long term plans for growth and development.”