Angola's diamond polishing company, Stardiam, is focusing on specialised cutting and differentiation strategies to maintain its market value in the face of the threat posed by lab-grown diamonds.
Company manager of production Helga Pombal told Rough&Polished's Mathew Nyaungwa on the sidelines of the Angola International Diamond Conference that lab-grown diamonds are creating a parallel market for more accessible stones, combined with lower production costs.
This trend, said Pombal, has put significant pressure on the prices of natural diamonds, although in the right eyes, they continue to be valued for their rarity and exclusivity.
Pombal said they only acquire diamonds from companies with an established track record of following industry standards and practices.
She said that Stardiam is also committed to traceability, which guarantees transparency throughout the sourcing process.
Below are excerpts from the interview.
What is known about the Stardiam diamond factory?
Stardiam is an Angolan polishing factory, located in the Saurimo Diamond Development Hub, which was officially inaugurated by His Excellency, the President of the Republic of Angola, João Manuel Gonçalves Lourenço, on August 27, 2021. Stardiam's purpose is to leverage the polishing quality and excellence of Angolan diamonds worldwide.
Stardiam was born out of an ambitious and visionary initiative by an Angolan investor in the diamond sector who saw the opportunity to polish the diamonds extracted by Angolan mining companies on national territory.
For years, Angola's mines sent their production abroad in search of foreign expertise in evaluating and cutting rough diamonds.
Stardiam has changed this paradigm: Angolan rough diamond producers can sell portions of their production within the country, making the marketing process faster and less expensive.
This strategy takes Angola one step further on the global diamond scene, establishing itself as one of the main centres for the production and future cutting of gems.
What determines where you source your diamonds from?
Stardiam sources directly from Angolan mining operators who follow industry standards and practices, ensuring compliance with legal and ethical requirements. Our commitment is to quality and traceability, guaranteeing transparency throughout the sourcing process.
What is the profile of the diamonds that you cut?
We specialise in cutting diamonds of different sizes and shapes. We work with diamonds of various profiles, offering both traditional cuts, such as the round brilliant, and fancy shapes, to meet the needs and preferences of our clients. We guarantee that each diamond is cut with the highest precision and care, ensuring that its beauty and value are maximised, regardless of its size or shape.
What type of jewellery do you produce?
We are working to expand our services and will soon be creating exclusive jewellery incorporating our high-quality cut stones. We are committed to meeting our customers' needs, both in supplying cut diamonds and in offering sophisticated jewellery.
Where do you supply your products and what is the level of demand from these parts of the world?
The destination for our cut diamonds is mainly the international markets, especially Dubai, New York, and Antwerp. Our clientele is mainly made up of jewellers, distributors, and other companies specialising in precious stones. Demand for our products has been growing, especially in these regions where there is a strong demand for high-quality diamonds. We are always attentive to global trends and are working to expand our presence in new regions, meeting the specific needs of each market.
How are synthetic diamonds affecting your operations?
Synthetic diamonds are creating a parallel market for more accessible stones, combined with lower production costs. This trend has put significant pressure on the prices of natural diamonds, although in the right eyes, they continue to be valued for their rarity and exclusivity.
Stardiam has adapted to the changes, focusing on specialised cutting and differentiation strategies to maintain its market value in the face of current conditions.
What are some of the challenges you face as diamond manufacturers?
We face several challenges that require not only technical skill but also constant adaptation to market conditions and evolving technologies. Some of the main challenges include:
· Variety and Complexity of Stones: Each diamond is unique, with its own characteristics and inclusions that require a personalised approach during the cutting process. Ensuring that each stone maximises its beauty and value, regardless of its size or shape, is a challenging task that requires great precision and experience.
· Competition in the Global Market: The diamond market is highly competitive, with suppliers from different parts of the world offering stones of various qualities and prices. Maintaining our leading position requires constant innovation, quality and excellence in our cutting services.
· Production Cost: The diamond cutting process is complex and requires specialised high-tech equipment, as well as a meticulous manual process. Controlling costs while maintaining the highest quality standards is an ongoing challenge, especially in the face of fluctuating raw material prices and operating costs.
We invest in specialised training, state-of-the-art technology and sustainable practices to meet these challenges, to always offer the best in quality and service to our customers.
What are your expectations for Stardiam in 2025?
For 2025, the expectations for our diamond-cutting factory are very positive and focused on sustainable growth, innovation, and adapting to market trends. Some of the main objectives and projections for the coming years include:
· Expansion of Production Capacity
· Innovation in Design and Cutting
· Sustainability and responsible practices
· Growth in the Global Market
· Investments in Technology and Training
In summary, the expectations for 2025 include consistent growth, a focus on innovation and quality, and a commitment to social and environmental responsibility. We are confident that our dedication to excellence will enable us to achieve these goals and consolidate our position as a benchmark in the cut diamond market.
Mathew Nyaungwa, Editor in Chief, Rough&Polished, recently in Saurimo, Angola
