рус  | eng  |

Exclusive

Funding alluvial diamond operations a ‘hit and miss affair’: Rand Merchant Bank
henk_de_hoop_preview.jpgThe Rand Merchant Bank (RNB) said that it is not comfortable funding alluvial diamond mining projects as they are highly risky. The bank’s business development director Henk de Hoop, who has an experience in funding diamond projects, told Rough & Polished’s Mathew Nyaungwa in an interview on the sidelines of the Botswana Resource Sector Conference held last month, in Gaborone that funding alluvial diamond operations is a “hit and miss affair”.

Diamond jewellery is definitely making a mark on gold loving customers
ishu_datwani_preview.jpgIshu Datwani, Founder, Anmol Jewellers is a man in a hurry. For a first generation jeweller, he learnt the ropes of the business in a short span of time and has not looked back since. While still in college, Ishu pursued a course at the Gemological Institute, armed with which he later established Anmol Jewellers in 1986. From then on, it was one fast race for this young entrepreneur, who with sheer grit and determination took the brand ‘Anmol Jewellers’ to unimaginable heights. Here, Ishu Datwani speaks to Rough&Polished in his inimitable style, about his early struggling days in the Indian jewellery market to the present day… and of course his dreams for the future.

As the world economies grow, the silver will absolutely grow - Michael DiRienzo, Executive Director of the Silver Institute
michael_dirienzo_preview.jpgThe year of 2013 was marked by increased demand for silver. Jewelry demand rose 10 percent, while total demand for the metal went up by 13 percent. Michael DiRienzo, Executive Director of the Silver Institute based in the United States, told Rough&Polished about current trends in the silver market disclosing the aims pursued by his organization and its prospects.

CIBJO: It was a good and well coordinated job
Alla Nozhkina, Doctor of Engineering, Professor, Head of Research at the VNIIALMAZ laboratory, shared her opinion about the CIBJO Congress held last May in Moscow and about the problems discussed there at the Conference on synthetic diamonds. VNIIALMAZ is Russia’s leading institute in the field of research, development, production and use of natural and synthetic diamonds and diamond tools.



News

01.08.2014
Diamonds, gold fuel CAR religious violence - report
The religious violence that has ravaged the Central African country is allegedly being fuelled by the illegal trading in diamonds and gold.

01.08.2014
Brazil Minerals Expands Management Team
Brazil Minerals Inc. added three professionals to its management team. Carlos Henrique de Oliveira Garcia joined the diamond and gold mining company as manager.

01.08.2014
RJC reaches a milestone – over 500 Members
In its ninth year, RJC reached a milestone this month with over 500 Members, 363 of which are certified against the RJC Code of Practices (COP).



Cautious prognosis for diamond market after ‘good’ holiday season

30.01.2012

Rockwell Diamonds, which operates alluvial diamond mines in South Africa, said recently that anecdotal evidence suggests that diamond jewellery sales in the United States were better during the last Christmas season than the year before.

This, it said, is expected to assist in the liquidation of inventory with the resultant cash flow improvement rolling over into the January and February rough diamond purchasing period.

Rapaport Group also noted that confidence had improved in the diamond industry since January 1, following a period of relative price stability and a “satisfactory” United States holiday season.

Jewellery seller, Tiffany & Co said that worldwide Christmas-season sales rose 7 percent year on year to $952 million for the two months that ended on December 31.

It said retail sales rose 4 percent to $503 million across the Americas, which include the U.S., Canada and Latin America, while sales leaped 19 percent to $165 million in the Asia-Pacific.

Japan recorded a sales increase of 13 percent to $160 million, it said, adding that Europe sales improved by 1 percent to $117 million.

Rockwell expects diamond prices and demand to increase through the first half of 2012, while Rapaport cautioned that there were concerns whether current price levels were sustainable due to the adverse economic conditions.

The question, however, is whether the conditions that led to a dip in the diamond market during the second half of 2011 were still prevalent.

According to Rapaport the decline recorded during the second half of 2011 was influenced by increasing uncertainty caused by the U.S. and European economic crises, volatile financial, currency and commodity markets, as well as continued political instability in the Mideast.

It said tight liquidity, particularly in India, also impacted trading from July as manufacturers were unable to obtain replacement costs on the high rough prices they had paid earlier in the year.

Clearly, these factors are still prevalent and largely expected to continue influencing the market this year.

The World Bank recently slashed its global economic growth forecasts and warned that rich nations' debt problems may yet reap a crisis that would eclipse the tumult of 2008.

It noted that although the financial turmoil appeared contained at the moment, the risk of a much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis remains.

It is such a gloomy picture that will largely affect the performance of the diamond market particularly, in the U.S and Europe.

However, this might not be the case in China and to some extend India, which saw its economic growth decelerate in part, last year, because of domestic policy tightening.

Diamonds.net said sentiment in the U.S about prospects for the coming months was mixed as it remains to be seen whether large retailers will build inventories at the same pace as last year.

It also said polished trading remains relatively slow in India due to weak domestic demand and caution by buyers about the general market.

Rough trading was slow but activity is expected to improve in the coming weeks as the January sight cycle begins.

“There is sufficient supply of goods in the market but very few transactions are taking place due to wide price differentials,” it said.

“Large manufactures have maintained their production levels while small and medium size cutters are operating at well below capacity.”

Chinese buyers on the other hand were currently focused on filling last-minute orders before the Chinese New Year begins on January 23, but a slowdown was expected in the coming weeks as the focus turns to the retail market, Diamonds.net said. 

By and large it appears the market will pick in some regions and slow in others.

However, with the economic uncertainty that characterized the better part of the second half of 2011 still hovering above the diamond market, despite good business recorded during the holiday season, it is tricky, as Rockwell Diamonds did, to conclude that all will be rosy during the first half of year.

Predicting the performance of the diamond market this year, especially at this stage is problematic; hence caution is the buzz word.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

Comments

Only registered users are allowed to comment.
Register
Sign in
© 2007-2014 Rough and Polished