Login

Virtual Possibilities of Jewellery Market

Online jewellery trading in Russia – since it started boosting and becoming more popular among the consumers - is of keen interest among the market players and is a topical issue. Dmitry Zamyshlyaev, Deputy Head of the Federal State Enterprise ‘Assay...

17 july 2017

Too early to say good days are back, but the industry is witnessing changes

Rajesh Lakhani, Director of Kiran Gems Pvt Ltd has more than 20 years standing in the diamond industry shouldering major responsibilities at Kiran including planning, developing and managing global marketing, sales and distribution of polished goods...

10 july 2017

The task of all the jewellery community is to back up the history of natural diamond, its myths, its reputation of a rare and most precious gem

Russkaya Yuvelirnaya Kompaniya No. 1 Holding comprising the Moscow jewellery factory of the same name and the retail chains in Novosibirsk and Moscow manufactures exclusive jewellery pieces and sells them on the Russian market. It specializes in making...

03 july 2017

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...

26 june 2017

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

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

Comments

Only registered users can add comments (Register, Login)