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SA’s Vutomi project can start production end of 2018 – John Teeling

Botswana Diamonds entered into an option and earn-in agreement with Vutomi Mining and Razorbill Properties, a private diamond exploration and development firm in South Africa last February. It agreed to pay Vutomi a total of £942,000 in cash, of which...

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Proximity doesn’t matter, your pocket does: Tanzanians interested in tanzanite jewellery can testify

Tanzanite, a rare blue/purple gem, was discovered in the Merarani Hills of Manyara Region in northern Tanzania in 1967, a few miles from Arusha and Mount Kilimanjaro. It is used as a gemstone and of late Tanzanians are manufacturing quality jewellery...

19 june 2017

Global demand for polished diamonds will remain steady – Ali Pastorini

Ali Pastorini, senior vice-president of the World Jewelry Hub, answered questions from Rough & Polished concerning the world diamond market, preferences of consumers and role of bank crediting.

13 june 2017

Eternal values in Malaya Bronnaya Street

The assay supervision in Russia is 317 years old. Much younger is the Moscow Gemological Certification Centre (MGCC) established under the Assay Chamber and located in the same ancient respectable mansion at 18, Malaya Bronnaya Street. The MGCC employees’...

05 june 2017

Diamonds will have the greatest potential in 2017

Mumbai-based Rajesh Bhagat, India Consultant of Hong Kong Trade Development Council (HKTDC) who oversees HKTDC’s operations across India, Sri Lanka and Bangladesh, has been assisting companies, particularly small and medium enterprises (SMEs) in the...

29 may 2017

India demonetisation policy hits smaller, lower value rough diamonds trade – De Beers

11 january 2017
De Beers said trade in smaller, lower value rough diamonds are currently experiencing a slowdown as a result of the demonetisation policy in India.
However, group head of media relations Lynette Gould said in an exclusive interview with Rough & Polished that demand for their rough diamonds in the fourth quarter of 2016, the rest of the product mix, continued to be healthy.
She said sales also remained in line with seasonal expectations.
“Over the medium and long term, the supply-demand fundamentals of the diamond industry are positive and continue to point to future growth,” said Gould.
“India’s diamond consumer market has achieved almost uninterrupted growth over the last two decades, with demand for diamond jewellery expanding in 19 of the last 20 years, in rupee terms.
“In the last decade alone, the market has nearly trebled in size to about INR220 billion. And, the future is just as promising.”
She said India was home to a highly dynamic, growing consumer market; fuelled by a fast expanding economy, a widening consumer base and a culture where precious jewellery plays an intrinsic role in social occasions and family traditions.
“In particular, India’s middle classes are growing rapidly, with the purchasing power of the highest income households expected to rise at the fastest pace,” Gould said.
“So in the long run, we believe there is as much untapped opportunity for the diamond industry in India as anywhere else in the world.”

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

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