AWDC Board Elects New President

The Antwerp World Diamond Centre (AWDC), the industry organization representing the interests of 1,600 diamond companies in Antwerp, has elected Nishit (Bali) Parikh as its new President, replacing outgoing President Stéphane Fischler...

22 february 2018

De Beers’ 2017 core earnings up 2pct despite drop in revenue

De Beers, which is 85 percent-owned by Anglo American, said its underlying adjusted earnings before interest, tax, depreciation and amortization (EBITDA) leaped 2 percent to $1.435 billion compared to $1.406 billion a year earlier despite lower...

22 february 2018

Lucapa Diamond CEO perceives good start for rough diamond market in 2018

The rough diamond market has this year started off “very well” as high demand has seen prices go up in January, according to Lucapa Diamond chief executive Stephen Wetherall.

22 february 2018

GJEPC and MIDC sign MoU for Jewellery Park in Mumbai

The Gem & Jewellery Export Promotion Council (GJEPC) of India and the Maharashtra Industrial Development Corporation (MIDC) signed a MoU for the setting up India’s largest Jewellery Park in Mumbai.

22 february 2018

Stellar starts front end engineering, design for Tongo-Tonguma

Stellar Diamonds said it has started the Front End Engineering and Design study (FEED) for the underground mine development of the Tongo-Tonguma project in Sierra Leone.

22 february 2018

Lucapa to become a niche diamond company, says Wetherall

19 february 2018

Lucapa Diamond believes that it will become the only company in the world with multiple diamond mining operations whose average diamond value is in excess of $1,000 per carat, once the Mothae mine is commissioned this year. Company chief executive and managing director Stephen Wetherall told Rough & Polished’s Mathew Nyaungwa in a wide-ranging interview early this month on the sidelines of a mining conference in Cape Town that this development would make Lucapa a “very niche” diamond mining company.

Zimnisky: Diamonds lack fungibility to be a major investment product

12 february 2018

Physical diamonds will never be a viable widespread investment product simply because they inherently lack fungibility, meaning they are all unique, according to Paul Zimnisky, an independent diamond industry analyst and consultant, who is based in New York. He told Rough & Polished’s Mathew Nyaungwa in a wide-ranging exclusive interview that the lack of fungibility makes diamonds illiquid and consequently very expensive to transact. Zmnisky also said that diamonds had considerably underperformed global stocks in recent years and this is mostly due to a secular change in American luxury consumption preferences and marriage rates, and the economic slowdown in China a few years back. However, the Chinese market had since shown signs of recovery and would lead to stronger relative global demand for diamonds in 2018. He projected demand for polished diamonds in value to increase 3-4 percent this year, driven by a strong global economy while global rough diamond production in value was expected to decrease 1-2 percent.

Julien-Vincent Brunie: "Being surrounded by beauty and art is a privilege!"

05 february 2018

This last December, shortly before Christmas, the Auction House of Christie's arranged a private display of jewelry in Moscow. The correspondent of Rough & Polished, who had an opportunity to visit this event, was able to admire a luxurious collection of jewelry from famous brands and talk with Julien-Vincent Brunie, International Head of Jewellery Private Sales at Christie’s.

Ali Pastorini: We would like meeting Mujeres Brillantes 2018 to be held in Russia

29 january 2018

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 500 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain, Italy and Germany. The mission of Mujeres Brillantes is to help women in the jewelry and watchmaking sectors consolidate their business in order to exchange professional skills and experience. In the immediate past, Ali Pastorini was also Senior Vice President of the World Jewelry Hub in Panama. In this interview with Rough&Polished she tells about major trends and problems in the jewelry business.

Diamond Exchanges promote healthy development of the diamond industry, besides safe and basic infrastructures for diamond trade

22 january 2018

Prior to joining the Guangzhou Diamond Exchange, Liang Weizhang served as a civil servant of Guangdong Entry-Exit Inspection & Quarantine Bureau as the director of the Kimberley Process Office. He participated in the KP Review missions to South Africa, Zimbabwe, Lesotho, Laos, Bangladesh, Namibia, and Venezuela. With strong knowledge of the global diamond industry and KP affairs, and as a qualified FGA, DGA of Gem-A, he has the experience of running a diamond and jewelry laboratory as well for a government organisation. Holding various positions including Vice Chairman of the Gems and Jewelry Testing and Assessment Committee of GAC (Gems & Jewelry Trade Association of China), he is also the Committeeman of the Gems & Jewelry and Arts Appraisal Committee of China Appraisal Society. As a general manager of the Guangzhou Diamond Exchange since 2015, he has steered it to the second international trading platform of rough diamonds after the Shanghai Diamond Exchange. Here, in an Interview with Rough&Polished, Liang Weizhang speaks at length about the Guangzhou Diamond Exchange, KP associated matters and various other diamond industry related issues.

Fura Gems tempting India with rubies from Mozambique and emeralds from Colombia

15 january 2018

A qualified Chartered Account, Dev Shetty heads Fura Gems Inc as President and CEO, who has recently developed world’s largest emerald mine in Zambia and world’s largest ruby mine in Mozambique. Dev started his career in India but moved to the UK in 2006; joined Pallinghurst Advisors LLP, a private equity firm which made him Gemfields Group CFO and executive director; and eventually, Dev was responsible for overall operation of Gemfields plc.
Dev's experience ranges from a project and operational management, strategic formulation, business turnaround, mergers and acquisition, budget and business plan formulation including the setting up fund structures in different jurisdictions and more. In January 2017, Dev partnered with Forbes and Manhattan, a Canadian private merchant bank to incorporate, Fura Gems Inc, Toronto listed (FUR.V) gemstone mining and marketing company. In an interview with Rough & Polished, Dev Shetty talks about his expansion plans through Fura...

The Exchange plays a significant role in the global jewellery industry - Li Zhiwei, General Manager, GDGJE

09 january 2018

Li Zhiwei, has been engaged in the Gems and Jewellery development management in China’s government department for the past 30 years. He served as Vice Chairman of Gems and Jewelry Association of China for more than 10 years and has effectively pushed forward Panyu’s gems and jewellery industry development. Under his administration, Panyu, which is an administrative district of Guangzhou, the capital of the Guangdong Province, has developed quickly as well as changed from a small unknown village in the 1980s to one of the most developed districts of China’s gems and jewelry industry. Since March 2016, Li Zhiwei has been serving as General Manager of the Guangdong Gems and Jade Exchange. In an interview with Rough&Polished, Li Zhiwei elaborates on the workings of GDGJE, its agenda for the future, the current tax structure in China and more...

Yoram Dvash Hits The Ground Running As Second Term Begins

04 january 2018

Having completed his first term in office as President of the Israel Diamond Exchange (IDE), Yoram Dvash sat down with Rough & Polished to discuss his achievements during his first period in office, and plans for the second term following his unopposed reelection in October. One of the changes that was agreed at the IDE's last General Assembly was for the term of IDE president to last three years rather than two to give the man at the helm time to plan and execute changes, meaning Dvash’s second term will end in 2020.

Eurasian Diamond Center should bring profit and open new prospects and opportunities for all its players

25 december 2017

The ALROSA affiliate in Vladivostok established in 2016 was headed by Alexey Ivanov about half a year ago. He was charged with the responsibility for developing business on the company's Far Eastern platform and attracting new customers to the Eurasian Diamond Center (EDC). Alexey Ivanov, who has many years of experience in the diamond field under his belt, has a legal education and headed ALROSA's representative office in Israel and that of Arcos Diamonds Israel, Ltd. in different years, previously holding the position of an assistant to the president of ALROSA. In recent years, he headed the Secretariat of the Deputy Chairman of the Russian Federation Council and was an assistant to Vyacheslav Shtyrov, Member of the Federation Council at the Federal Assembly of the Russian Federation. Alexey Ivanov answered the questions from Rough & Polished regarding ALROSA's activities on its Far Eastern platform.

NDTC to supply rough worth about $400 m this year

18 december 2017

The Namibia Diamond Trading Company (NDTC), a joint venture between the Namibian government and De Beers, said it expects to supply rough diamonds worth $390 million this year. The diamond trader, which has 11 sightholders, had a fixed supply of diamonds worth $430 million under a new 10-year deal signed last year. NDTC chief executive Shihaleni Ndjaba told Rough & Polished on the sidelines of a diamond conference in Gaborone, Botswana in November that the figure, however, fluctuated annually because it was index-linked to price so that volumes do not decrease relative to any price increases. He said that the future of diamond manufacturing in Namibia was bright and he would want to see small-scale operators being established as was the case in South Africa.

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