De Beers speaks on demand for diamond jewellery, impact of India’s demonetisation policy on gems trade and synthetics’ threat or lack thereof
Global diamond giant, De Beers said that last year’s demand for diamond jewellery, across the key consumer markets, was broadly stable on 2015. Group head of media relations Lynette Gould told Rough & Polished’s Mathew Nyaungwa that the United States...
16 january 2017
Jewelry holding Ringo, founded in 1993 in Ekaterinburg is one of the leaders in the Russian jewelry market, having an extensive customer base, a modern integrated manufacturing facility comprising all the cycles of jewelry making, from generating creative...
09 january 2017
"Many passionate people believe in the future of the diamond sector but very few companies have the perception to invest in technology... have difficulty thinking or planning for long term,” feels Stephane Dujourdy, owner of an e-business company and...
04 january 2017
Having 60 years of industrial diamond mining experience under its belt, ALROSA has long been successfully operating in several African countries, which are applying its expertise to a full extent. In 2012, the company formulated its Strategy for Developing...
26 december 2016
The world’s largest diamond hub in the City of Antwerp, tracing its origin as far back as the middle of the 15th century, came to its prominence soon after the Eureka Diamond, the first stone of this kind discovered in South Africa, caused a massive...
15 december 2016
16 january 2017
As the global diamond producing club has become increasing fractured, an interesting phenomenon has emerged of a large number of small and medium-size diamond producers with the investment capacity to develop new mines. In an industry once dominated by De Beers which, until around 20 years ago, accounted for 80 percent of global supply, the change is all the more intriguing. Today, De Beers itself says it is responsible for only around 35-38% of global supply. Meanwhile, number two producer, Russia's Alrosa, accounts for more than 25%. As a result, smaller miners are playing a growing role. These include, for example, Petra Diamonds, which has emerged and developed after acquiring several of De Beers’ former mines. The grand master of the diamond industry decided around a decade ago that it needed the cash available from the sale of some of its old mines. In addition, it came to the conclusion that it did not regard the investment of tens, and perhaps hundreds, of millions of dollars in the operations as a wise investment strategy.
09 january 2017
AWDC and Bain & Company noted in their 2016 global diamond report that rough-diamond revenues declined by 24 percent in 2015 as the midstream segment sold down accumulated inventories. The report noted that manufacturers reacted to softening demand by reducing production, increasing inventories and cutting rough-diamond prices. Rough-diamond prices also fell by 15 percent in late 2015 and remained largely static in 2016’s first half. The diamond industry had suffered the “ripple effect” from the mild decline in consumer demand for diamond jewelry that started in 2014 in Greater China. The slowdown led to a notable drop in demand for polished and rough diamonds, which in turn led to price decreases for polished and rough diamonds of 12 percent and 23 percent, respectively, since May 2014 and of 8 percent and 15 percent, respectively, since the beginning of 2015.
04 january 2017
Undoubtedly one of the most influential American impacts on consumerism worldwide has been the shopping mall. But the US retail industry is facing serious issues, particularly in the light of growing Internet-based sales. Is the decline in the mall 'experience' yet another repercussion of the financial crisis of 2008 and the huge recession that followed and which turned many US consumers into necessity-based shoppers? That is the conclusion of many analysts who believe that the desire to spend a day or even just an afternoon impulse shopping at the mall has become a thing of the past for many consumers who, if they do continue going to malls, have cut back their willingness to spend hours wandering around.
26 december 2016
A Belgian diamond expert Filip van Laere, who advised Harare on ensuring compliance with the Kimberley Process (KP) said in September 2010 that diamond output from Marange fields were expected to reach 40 million carats by 2013, helping the country generate about $2 billion in revenue per year. "Zimbabwe has been propelled to the number one spot as the world's most important player and it will be number three in value,” he was quoted as saying at the time by Reuters. Van Laere even richly said that Zimbabwe could outshine leading diamond producers like Russia, Botswana and South Africa. However, Zimbabwean president Robert Mugabe said recently that diamond mining in the country had ‘failed’.
19 december 2016
Given the magnitude of raw material required, would India ever become self-sufficient with regards to its rough diamonds requirement, if diamonds were mined within the country? Never, and the thought would be preposterous, as the cutting and polishing sector in the country seems to be growing by the day. It would be inevitable for the country to import/buy rough diamonds from multiple producers. But, producing diamonds from local mines will definitely ease the shortage situation as well as give some solace to rough buyers in terms of price, which is currently eating into their profits.
12 december 2016
The American bridal jewelry industry is worth around $12.5 billion, and the engagement ring industry on its own is valued at about $7.7 billion. These two parts of the market are by far the most important and are very much the bedrock of retail jewelry sales. The average cost of engagement rings is estimated at anywhere from $3,000-$6,000. Given the ever-increasing popularity of ethically produced goods, it comes as no surprise that the bridal market should also be one where consumers are searching for a ring with a difference.
05 december 2016
From that very moment, when LUKOIL announced a few years ago, that it started developing the Verkhotina area, it was clear for market players that this was a temporary affair. The similarities between oil and diamond production end on the word "production" - in reality, these are quite different operations. And diamond sales have never been considered a job for tenderfoots, as the diamond market is too specific and too dependent on emotions. At the end of last week, this affair saw its outcome, and Archangelskgeoldobycha (AGD), a company, which is part of the LUKOIL Group and engaged in the development of the V. P. Grib Diamond Field, turned to have a new owner. The main question now is what will happen to the Grib diamond pipe, the world’s eighth-largest in terms of diamond output?
28 november 2016
With Ivanka Trump’s global profile having grown since her father’s poll victory in the United States, there is no doubt that she can be a strong voice against the presentation of synthetic diamonds as natural stones.
21 november 2016
While the Kimberley Process Certification Scheme confirmed that Russia and Botswana were, respectively, the world's top diamond producers in 2015, it also confirmed that Canada continues to strengthen its position as the world's third-largest producer. And as diamond mines deplete and no large new operations are discovered, Canadian firms are competing to make up the shortfall.
14 november 2016
If there has been one exceptionally clear trend during the US Presidential campaigns of 2008, 2012 and 2016, it is that the population of the world's biggest diamond and jewelry market has changed and is continuing to do so rapidly. At the time that De Beers launched its famous 'A diamond is forever' advertisement, following the end of the Second World War, the United States was an overwhelmingly white country, and even more so regarding income and wealth. Although white Americans still make up the bulk of the country's population of around 325 million, this group's birthrate has declined in recent decades and now stands at an average figure of about 1.8%. Meanwhile, the numbers of minority groups have grown, with the Hispanic and Asian populations showing a particularly strong growth rate. It is now estimated that the U.S. Hispanic population numbers in excess of 45 million, an increase of more than 2% over 2012, while the Asian population has grown to more than 20 million, with a growth rate of 2.9%.