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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...

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James Campbell: Scoping study results for SA’s Thorny River due mid-year

Botswana Diamonds appeared to have expended most of its energy and resources last year on the new Thorny River project in South Africa as its Sunland Minerals joint venture with Alrosa, in Botswana takes long to find diamonds despite significant effort...

16 april 2018

MGCJ founder Branko Deljanin: Production of synthetic diamonds is still larger than consumption

Founder and Chairman of the Mediterranean Gemmological and Jewellery Conference, MGJC, Branko Deljanin kindly agreed to answer questions from Rough&Polished related to synthetic diamonds and the upcoming 4th session MGJC in May in Budva, Montenegro.

09 april 2018

There is some magic in a diamond

Alexander Gorynya is a Director General of the St. Petersburg-based Kongo jewellery company. He is a Chairman of the Union of North-West Jewellers. In 1978, he graduated from the North-Western Extramural Polytechnic University. Since 1983, he worked...

02 april 2018

Looking for the Kimberley Process achieving further and meaningful sustainable progress

On March 7, 2018, the United Nations General Assembly welcomed the progress made by the Kimberley Process Certification Scheme to break links between the diamond trade and conflict and adopted a consensus resolution aimed at intensifying that work aligning...

26 march 2018

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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