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

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...

16 october 2017

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

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...

09 october 2017

GSI was the first in the world to begin testing of smaller size diamonds in bulk and has never looked back since - Mark Gershburg

With more than 30 years of experience in the gem lab sector under his belt, Mark Gershburg is an industry veteran widely popular in the global gem and jewelry industry. He began his career in 1980 as a grader but his professionalism, creativity, and...

02 october 2017

Gaetano Cavalieri: Over the long term, demand for diamonds is likely to grow at a steady pace

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

25 september 2017

“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

De Beers closes Dubai auction-sales office

19 june 2017
De Beers is set to shut down its auction-sales office in Dubai on July 31 due to weak demand from local companies.
The company, which opened the Dubai office in 2011, would still have a presence in the emirate through representatives of global sightholder sales.
Rapaport reports that customers whose business with De Beers was currently managed through Dubai would receive new account managers in Mumbai, India.
The global rough-auctions business shifted focus to Mumbai, India since the establishment of a special notified zone (SNZ) in the Bharat Diamond Bourse two years ago.
“Our ability to meet Indian-based customer needs...through the SNZ over the last year and a half or so has been a great success, and we continue to see significant opportunities in India,” an unnamed De Beers spokesperson was quoted as saying.
“However, this has carried the consequence of steadily diminishing demand from Dubai-based businesses over that period to the point where a business case for a permanent Dubai presence no longer makes sense for us.”
The move by De Beers comes after Alrosa reported last week that it had agreed to work more closely with Dubai to expand the Russian miner’s business in the emirate’s trading center.
Alrosa president Sergey Ivanov said Dubai was one of the world’s leading diamond trading centers.
He said the miner’s rough sales to companies based in the United Arab Emirates totaled $259.5 million last year.
“Alrosa’s affiliate Arcos East DMCC has been successfully operating at the Dubai Diamond Exchange, and we are certainly interested in wider cooperation with our partners from DMCC,” said Ivanov.

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

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