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“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing...

18 september 2017

Diamond exploration junior obtained conclusive proof of diamond-bearing kimberlites in Russia’s North

OOO Proex Service, which is searching for diamonds in the Arkhangelsk Region of Russia, discovered seven kimberlite pipes in the Kozolsky license area having spent 15 months for the find. One of the pipes is very similar to the highly diamondiferous...

11 september 2017

People do not just make fun in the social media, they make purchases there

Oksana Senatorova has been famous in the jewellery world for a long time as a publisher of the ‘Navigator in the Jewellery Trade’ journal, organizer of the international contest ‘The Best Jewellery Store of the Year’, curator of professional events and...

04 september 2017

‘There is no illegal tanzanite mining in Tanzania’

Richland Resources, which wholly-owned TanzaniteOne until the Tanzanian government forced it to relinquish half of its stake to the State Mining Corporation (STAMICO), exited the country in 2015 to focus on its operations in Australia. The formalisation...

28 august 2017

David Block: “Intellectual property theft is not just Sarine's problem...whole industry should combat this phenomenon.”

For more than 15 years, David Block served in various senior positions at Sarine Technologies in Israel and India. From 2012 until his appointment as CEO in 2017, Block was Sarine's Deputy CEO and Chief Operating Officer, with responsibility for...

21 august 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

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