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ALROSA becomes a certified member of the RJC

ALROSA has become a certified member of the Responsible Jewellery Council (RJC) by achieving certification against its Code of Practices through meeting the highest ethical, human rights, social and environmental standards as established by the...

Yesterday

De Beers rakes in $450mln from latest rough sales – Anglo

Anglo American said De Beers raked in $450 million from its tenth sales cycle of the year compared with $422 million, a year earlier.

Yesterday

The Kimberley Process (KP) Plenary session starts in Brisbane, Australia

Prior to the commencement, the World Diamond Council (WDC) led bilateral meetings with members of the KP family including the Chair, some of the 81 KP member countries and the Civil Society Coalition. It also conducted its third Observer’s Forum...

Yesterday

CIBJO President expressed support for De Beers plan to develop diamond traceability system

CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation's support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group's CEO, Bruce Cleaver.

11 december 2017

IDE to unveil technology breakthrough initiatives at IDWI 2018

The Israel Diamond Exchange (IDE) has announced that it will unveil a series of groundbreaking initiatives that will have an important impact on the diamond industry in Israel and worldwide at the International Diamond Week in Israel (IDWI)...

11 december 2017

It's our responsibility to capture the imagination of future generations towards diamonds

11 december 2017

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for Vin Lee to ascend the US luxury world and establish himself as a formidable businessman. Besides his business in the diamond industry, he monitors his companies' participation in charity auctions, celebrity events, and red-carpet functions. Constantly on the move, he spends his time in South Florida & Southern California. In an interview with Rough & Polished, Vin Lee elaborates on his earlier days; entry into business; and his hopes for the future of the industry.

‘Non-diamond producing countries shouldn’t lead KP’

04 december 2017

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson, M’Zee Fula Ngenge. He told Rough & Polished on the sidelines of the De Beers diamond conference in Gaborone, early November, that diamond producers cannot be “overseen” by consumers of diamonds. Diamond producers and consumers as well as the civil society were allowed to be members of KP, which was established in 2003. A country or bloc has an opportunity to chair the diamond watchdog for a year and the current leader, Australia, will pass on the baton to the European Union when its term come to an end next month. Ngenge also said that some diamond mining company heads are not prepared to hear what they were advocating for. He, however, praised De Beers for their willingness to listen to the organizations’ viewpoints.

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

27 november 2017

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community and commented on the latest developments in the industry.

Any color diamond is a great investment

20 november 2017

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company that is known worldwide for three generations as masters in the art of colored diamonds; and possesses an extensive inventory of special and unique stones in all colors, shapes, and sizes as well as signature jewelry pieces. Here, in an interview with Rough&Polished, Bruno Scarselli speaks about the company, which has dedicated the last 30 years toward the marketing of color diamonds via museum, public lectures, auctions and private events... and more.

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

13 november 2017

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) launched this package of measures to strengthen the Kimberley Process Certification Scheme (KPCS) as a voluntary pattern of industry self-regulation aimed at weeding out conflict diamonds from the supply chain. The annual general meeting of the WDC recently held in Dubai was focused on broadening the scope of the KPCS and formalizing principles related to the “duty of care” for responsible business practices in the framework of the System of Warranties. In this interview given to Rough&Polished, Stephane Fischler, Acting President of the WDC shares his views on the issues raised during the two-day event.

IIDGR’s proprietary technology gives polished diamonds unique identity

07 november 2017

The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each stone used in the “diamond bullion.” Company president Jonathan Kendall told Rough & Polished’s Mathew Nyaungwa in an interview that the minuscule inscription made it difficult to forge the identity of a polished diamond. This, he said, provided “assurance” regarding the natural origin of each diamond and physical attributes.

In future, only those who offer innovative designs will survive

30 october 2017

A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing conglomerate employing more than 4 500 personnel, and boasting of about 300 000 designs in gold, diamond and platinum jewellery. The award-winning Group has gradually transformed gold jewellery manufacturing from the conventional methods to technology and talent-driven one. Emerald Group owns four ultra-modern production facilities in Coimbatore each specializing in different kinds of product range, with an annual jewellery production of about 20 tons. Speaking to Rough & Polished, Srinivasan expresses his opinion candidly about the Indian jewellery sector and its future prospects, with his insights on the need for focusing on the 'design aspect' to survive in the future, where changing tastes of the millennial consumers will rule the demand scenario.

Conditions are still very difficult - Ernie Blom

23 october 2017

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa; Chairman, Rough Diamond Dealers Association; Chairman, Master Diamond Cutters Association; Chairman, Jewellery Council of South Africa, South African Diamond Board; and is a Special Diplomatic Advisor to the Belgium government on trade with Africa. Here, in an interview with Rough & Polished, Ernie Blom speaks on various issues currently plaguing the global diamond industry.

Pavel Vinikhin: ALROSA will make a worthy contribution to the revival of the ‘Russian Cut’ Brand

16 october 2017

ALROSA is known as the largest diamond mining company throughout the world. However, not everyone is aware that it has its own diamond-cutting division. For a long time, the activity of DIAMONDS ALROSA remained in the shadows, only occasionally attracting the attention of journalists. However, recently the Dynasty, a unique diamond collection produced by DIAMONDS ALROSA, was sensationally presented first in Moscow, then at the Eastern Economic Forum in Vladivostok and later in Hong Kong. The collection, which already created a great deal of excitement, will be put up for sale in November at an online auction based on ALROSA's own IT platform. Pavel Vinikhin, Director of DIAMONDS ALROSA told Rough & Polished about the work on the collection, prospects of its international tour and plans for further development of the diamond cutting business he runs.

William Lamb: Lucara now knows best routes to market large stones

09 october 2017

Lucara Diamond recently announced that Graff Diamonds had bought its 1,109 carat diamond Lesedi La Rona for $53 million. The stone, which is the world’s second largest diamond found since the discovery of the 3,106-carat Cullinan diamond in 1905, failed to find a buyer at a public auction in London on 29 June, 2016 and the company vowed not to auction the diamond again. Reports suggested that the stone had a reserve price of $70 million, but bidding stalled at $61 million. Lucara had, however, partnered with Nemesis International DMCC a month prior to the London auction and sold its 813 carat diamond – named “The Constellation” – for $63,1 million. Company chief executive William Lamb told Rough & Polished’s Mathew Nyaungwa that one shouldn’t fall into the trap of comparing the revenue accrued from the sale of both stones. He said what was significant was the fact that the stones were collectively sold for almost the same amount as the cost of building Karowe Mine, in Botswana. The diamonds originated from the south lobe of Karowe Mine. Lamb admitted that they had had some learning to do on the best way to market large diamonds. Below are excerpts from the interview.

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