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Ali Pastorini: Selling just the idea of glamour is no longer enough

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 may 2018

Diamonds are shifting from occasional to daily wear

Joy Alukkas started his first jewellery showroom in UAE in the year 1987, and today the Joyalukkas Group is a multi-billion global conglomerate with varied business interests. Beginning with a single jewellery room in Abu Dhabi, Joy Alukkas has grown...

14 may 2018

GJC has played a crucial role in the last 10 years in improving the compliance level in the industry

Coming from a renowned family of jewellers based in Akola, Maharashtra, Nitin Khandelwal heads Khandelwal Jewellers (Akola) Pvt Ltd. He has interests in the Plastic industry, Real estate, Health & Recreation and Cold storage industries as well...

07 may 2018

Johnson: ASM diamond sector a potential new source of supply for De Beers

De Beers recently said that it is planning to pilot a programme called GemFair that will create a “secure and transparent route” to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair would partner with the Diamond...

03 may 2018

Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

Paul Zimnisky, an independent diamond industry analyst and consultant, said it will be very difficult for the lab-diamond manufactures to protect price as production processes and economics improve. He told Rough & Polished’s Mathew Nyaungwa in an exclusive...

23 april 2018

De Beers fourth sales cycle rakes in $520m, lowest so far in the year

18 may 2017
De Beers has earned $520 million from the fourth rough diamonds sales cycle compared with $636 million accrued, a year earlier.
Although the figure was provisional, the latest sales cycle was weaker compared with $586 million recorded during the third sales cycle for the year.
This makes it the lowest rough diamond sales recorded so far in the year by De Beers.
“We are continuing to see steady demand for rough diamonds, despite the industry entering a typically quieter season,” said De Beers chief executive Bruce Cleaver.
“Sentiment remains positive as we head towards the important Las Vegas trade show in early June.”
De Beers’ competitor, Alrosa of Russia generated $310.2 million from rough diamond sales in April, while its polished diamond sales were valued $7.6 million.
De Beers opened the year with strength as it raked in $729 million during the first sales cycle for the year with the group having recorded “good” demand across the majority of its assortment.
It registered a higher than usual volume of sales in the first quarter following a “strong” rebound in demand levels for lower value stones during the first sales cycle of 2017.
Group senior manager, media and commercial communications, David Johnson told Rough & Polished recently that the unexpected introduction of demonetisation in India late last year had resulted in weak demand, albeit temporary, for smaller, lower quality rough diamonds from the Asian country’s cutting and polishing industry.
De Beers had to temporarily put in place some additional flexibility for Sightholders purchasing a range of lower value rough diamonds following the introduction of the Indian demonetisation programme, as they recognised the challenges some customers would face as they adjusted to the new monetary environment.

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

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