Trigem opens new facility in Dubai to boost diamond trade

Belgium-based diamond service provider Trigem opened a new boiling facility in Dubai – a move that is expected to strengthen the emirate’s diamond industry and boost trading.

The new facility located at the Jewellery and Gemplex building in Jumeirah Lakes Towers has the capacity to boil over 1.4 million carats of diamonds each month, according to a statement from Dubai Multi Commodities Center (DMCC) on Tuesday.

“This new state-of-the-art facility will support the growth of Dubai’s status as the world’s leading diamond trading hub,” said Ahmed Bin Sulayem, executive chairman and chief executive of DMCC.

“We are confident that this development will help drive trade and encourage more businesses to set up in DMCC.”

The UAE traded $25 billion (Dh91.81bn) worth of rough and polished diamonds in 2018, the most recent year for which figures are available.

Trigem provides mining firms and diamond traders around the world with services that help to transform rough diamonds into higher-value stones. The company launched a rough diamond manufacturing and polished diamond re-cutting unit in Dubai last year.

“We’re thrilled to partner with the world’s best diamond boiler, Charlotte Boil from Antwerp to be the first independent, Belgian-quality boiler in Dubai,” said David Zabinsky, chief executive of Trigem.

“By offering one of the most critical services in the rough-to-market value chain, our superior and trusted diamond boiling will not only empower local traders to get more value from their diamonds, but also allow more miners from around the world to begin utilising Dubai as a one-stop-shop [and]marketing hub for their productions.”

In January, Trigem signed an agreement with security and logistics firm Transguard to provide secure transport services for its diamonds.

Trigem serves three types of clients including jewellery traders in Dubai, private individuals and jeweller clients based overseas.

Courtesy: THENATIONAL.AE