Brazil-centred exploration and development  company Five Star Diamonds Limited;  and well-known diamond brokers and consultants I. Hennig & Co. Ltd., recently signed a co-operation agreement “to add value and advance Five Stars diamond projects in Brazil”, by supporting “its development and growth efforts”, a statement from Five Star stated.

Under the agreement, the well-experienced, over 125-year-old diamond broking company will steer the fledgling Five Star’s “induction into the diamond industry” as well as help it develop sits brand.

Five Star feels that the co-operation with its new partner will allow it to focus on its bulk sampling and pre-development studies – which have been positive – while simultaneously gaining the support necessary to develop its marketing network and efforts.

Five Star Diamonds Chairman and CEO Matthew Wood commented: “We are extremely excited about this co-operation with Hennig. Hennig brings world class diamond expertise to Five Star. They will assist Five Star in navigating the diamond value chain whilst building our brand in global markets. Brazil represents an exceptional opportunity in the diamond space which has limited opportunity for growth and a dearth of new projects coming on stream. Five Star believes that the combination of our in house mining and exploration expertise with Hennig’s exceptional knowledge, expertise and relationships in the diamond sector is truly a unique and compelling opportunity.”

Hennig CEO Arik Sela said: “It is always exciting to work with a new and emerging diamond company, especially with the mining expertise which the Five Star team boasts. Hennig is pleased to provide diamond industry knowhow to Five Star and to usher its inauguration and prospective growth in our market. Throughout an impressive history in the diamond business Hennig has always seen itself as a torchbearer for innovation and transformation. We are happy to continue this tradition with our newly announced cooperation with Five Star.”