Expert reports
14.05.2008
Diamond Consumption Theory
The modern consumption theories, which are particularly developed in the West, teach that the development and depth levels (amount and quantity) of consuming some kind of goods do not depend merely on the level of population income. The people’s national character and mentality taking their definite and specific shape in goods – in our case in diamond jewelry - are of vital significance.
12.05.2008
Industry Events
The story associated with promoting palladium to the jewelry market was continued. As reported earlier, the results of a comprehensive research performed with participation of the Platinum Guild International and Palladium Alliance International as independent consultants under the auspices of the International Platinum Group Metals Association served the basis for a decision to develop and implement palladium jewelry sales. Major activities within the first stage of this operation will be aimed at the markets of China and the U.S.A. These activities will be led by Mining-and-Smelting Combine Norilsk Nickel, the world’s largest palladium producer, aided by major producers of this metal from the Republic of South Africa (Anglo Platinum, Impala Platinum and Tonmin) and the U.S.A. (Stillwater Mining Company). The program is targeted at a clear and explicit palladium positioning as a jewelry brand, which is to be done in cooperation with designers, manufacturers and sellers of jewelry. In the opinion of the program initiators, this will permit to set up a stable and growth-promising market.
12.05.2008
Jewelry Companies: From Mass to Premium
Leading positions in production output among domestic companies belong to those, which appeared in the market in the early 1990s, the “Pryamye inVESTItsii” monthly reports. Adamas, Yuvelirny Dom Yashma and the Moscow Jewelry Plant are at the top of the list. They have made a stake in fast development of retail sales and are selling mainly their own products. Corporate stores of this trio are located literally head to head, at least in Moscow.
News
16.05.2008
Kedikilwe lauds Debswana for hosting Paste 08 Seminar
Minerals Energy and Water Resources Minister, Ponatshego Kedikilwe, has lauded Debswana’s initiative in holding the international seminar on Paste and thickened tailings on behalf of the government of Botswana as a true reflection of the partnership between government and industry.
16.05.2008
India’s Diamond Exports Increase in April
India’s Gems & Jewelry Export Promotion Council (GJEPC) has announced that jewelry exports from India rose by 31% in April due to an increase in sales of diamonds.
16.05.2008
Angola And ROC Seek To Strengthen Ties
Manuel Antonio Africano, Angola’s Minister of Geology and Mines, recently visited Brazzaville, the capital of the Republic of Congo, as part of efforts to provide greater cohesion in the functioning of the Association of African Countries Producers of Diamonds (ADPA).
15.05.2008
DRC’s MIBA Sells $8M at Rough Auction
The Democratic Republic of the Congo’s state diamond miner, Societe Miniere de Bakwanga (MIBA), sold more than $8.2 million in its first public sale in five years.
15.05.2008
Japan’s Polished Imports Down 10%
Polished diamond imports to Japan in the first quarter of 2008, at 544,292 carats worth US$ 214,628,000, fell by some 10 percent in terms of both carats and dollars compared to the first quarter of 2007.
Exclusive
13.05.2008
Local beneficiation is the most important thing
The creation of the Namibian Diamond Trading Company (NDTC) is based on a 50x50 partnership between the Government of the Republic of Namibia and De Beers. The agreement, which resulted in the creation of the company, was signed in January 2007 and holds immense possibilities for the country in terms of the economic activity such a venture, is expected to generate. The purpose of the NDTC is to make diamonds available for sale in Namibia for local manufacturing. Shihaleni Ellis Ndjaba is the CEO of Namibian Diamond Trading Company (NDTC). Until January 2008 he was the Permanent Secretary in the Ministry of Works, Transport and Communication.
Analytics
Verkhotina Owners Agreed on Peace
On April 15, 2008 in Moscow, President of OAO Lukoil Vagit Alekperov, Chairman of De Beers Societe Anonym (De Beers) Nicky Oppenheimer, Managing Director of De Beers Gareth Penny, Chairman of Archangel Diamond Corporation (ADC) Bruce Cleaver and Director of ADC Tom Beardmore-Grey signed agreements on ownership rights and development terms for the Verkhotina Area located to the North-West of Arkhangelsk.
Is it Possible to Abandon the U.S. Dollar in Rough Diamond Sales?
In October 2007, ALROSA’s President Sergey Vybornov invited the participants of the world diamond market to consider the possibility to use the Swiss Frank instead of the U.S. Dollar as the payment currency in rough diamonds transactions. In February 2008, a similar opinion was expressed by Garreth Penny, CEO of De Beers, who said that probably it was time to realize the alternative to the dollar.
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