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Expert reports

Cheers for Jericho
(PolishedPrices) - I have been receiving several copies, all lovingly endorsed, of an article written by Chaim Even Zohar entitled ‘Love and Hate on the Rough Supply Side.’ Zohar’s article is one long diatribe against the producers and De Beers in particular. However, whilst everyone is ranting and raving about the producers, what are those within the midstream saying about themselves? As imperfect as the sightholder system is, it has been the sightholders who have often been its strongest supporters. To rail against the banks for lack of liquidity rather slithers over the opaque practices beloved of the midstream, which practices may finally caught or is catching up with them.

"Perfect Storm" in the Diamond Retail Industry
(The Diamond Loupe) - Mel Moss, industry activist and President of Regal Imports Ltd., discusses the "perfect storm" of miners cluttering the pipeline with unprofitable downstream endeavors, consumers losing interest and negligible profits for all: "Diamond miners are trying to make a profit, but under current conditions, their profit does not allow any profit for their customers. Diamond cutters are faced with a consumer that is not interested in paying more for diamonds, if they are interested in buying diamonds at all. [Retailers] often compete with their own suppliers for diamond sales and Internet discounting is pushing retailers to accept lower margins. It is a vicious circle with retailers not wishing to make tiny margins on increasingly complicated diamond sales. So retailers either stop selling diamonds in favor of more profitable products or demand lower prices from their suppliers, and around and around we go with no one in the pipeline being able to make money by selling diamonds." [Watch the video]

Op-Ed: Insanity of the Diamond Industry
(Rapaport) - It is the mistaken belief among those in our industry that price is all that matters that will destroy our industry. Increasing one’s revenues without making a profit is a pointless endeavor that leads nowhere. Selling diamonds to the consumer public at wholesale pricing accomplishes nothing except lowering the value of diamonds. The end result of this price-cutting actually diminishes the revenues of the industry as a whole.

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ALROSA reports H1 2015 IFRS results
H1 2015 ALROSA revenue increased by 26% y-o-y and amounted to RUB 131.9 bn. EBITDA grew by 49% y-o-y and reached RUB 70.5 bn with EBITDA margin going up to 53%. These results were disclosed in the company's statement released on Friday and received by Rough&Polished.

ALROSA releases Social and Environmental Report for 2014
ALROSA published its Social and Environmental Report for 2014.

Namdeb launches new vessel
Namdeb, a joint venture between the Namibian government and De Beers, has launched a new vessel named Zaamwani Surveyor, which will survey the bathymetry of the near shore portions of the company’s mining licence areas.

Blue Diamonds Drive Color Index Higher in 2Q
The Fancy Color Diamond Index (FCDI) rose in the second quarter, driven mainly by the blue-diamond categories, according to the Fancy Color Research Foundation cited by Rapaport.

A Diamond Park Project in MP (India) is in the offing
The government of the Indian state Madhya Pradesh (MP) has reportedly decided to set up a Diamond Park Project under PPP (Public Private Partnership) mode in its commercial capital of Indore, according to a recent report in Economic Times.

Tango discloses resource estimate for Botswana’s BK11
Tango Mining has unveiled an updated National Instrument (NI) 43-101 resource for its BK11 Kimberlite diamond mine in Botswana, which includes 17.4 million tonnes (Mt) of inferred resource with a total of 780,820 carats.

Sarine Profile Launched on RapNet Trade Platform
Sarine Technologies Ltd, engaged in the development, manufacture and sale of precision technology products for the evaluation, planning, processing, finishing, grading and trading of diamonds and gemstones, announced that its Sarine Profile solution has been incorporated into the RapNet trade platform.

HRD Antwerp presents lecture on lab-grown diamonds during the India International Jewellery Show
During the 32nd edition of the India International Jewellery Show (Aug 6th – 10 th) , HRD Antwerp actively participated in the seminar "Impact of Mass Produced Synthetic Gem Diamonds on the Trade".


GIA’s Global Leadership Program - Building Bridges between Different Sectors of Global Gem and Jewelry Supply Chain
kathryn_kimmel_x.jpgThe Gemological Institute of America (GIA), well-known for its wide range of education programs, launched yet another training course last year in team with the Harvard Business School (HBS), this time bringing together senior gem and jewelry executives from around the world and offering them an opportunity to discuss challenges facing the industry within the frames of the Global Leadership Program. After a successful start-up, the second edition of this Program was run on June 15-18, 2015 and turned to be in the opinion of one of its participants “a splendid platform for peers from all walks of the industry to discuss and exchange ideas”. Rough&Polished asked Kathryn Kimmel, GIA’s Senior Vice President and Chief Marketing Officer to tell more about this educational initiative and here is what she said.


Indian diamond industry: Between a rock and a hard place
When the going gets tough, the tough get going goes the saying and that’s precisely what the Indian diamond industry is doing at present. India’s diamond industry, especially the manufacturing sector has been going through tough times. The pressures facing diamond manufacturers and dealers are unprecedented, leaving the market in a state of chaos. But, for the resilient Indian industry, which has gone through worse situations in the past, panicking was not an option.

India’s diamond market events in July 2015
The Indian diamond market was quite active during the month of July, considering it is a slow period up to September, after which overseas demand will hopefully pick up. Currently, the market is stable, but the diminishing demand from overseas consuming markets seems to be of concern to the Indian exporters. The USA, as always, is the sustenance besides the Indian domestic market with its continuous demand for polished stones of all quality, size and shape. However, demand from the domestic market was rather slow as July-Aug is a period when jewellery sales are lowest; and normally pick up when festivals begin by September.

HRD Antwerp


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