Memorial Foundation of Carl Fabergé continues to fulfill its tasks

Valentin Skurlov, Ph. D., who is an Honorary Academician of the Russian Academy of Arts, professor, scientific secretary of the Fabergé Memorial Foundation, consulting researcher studying the Fabergé heritage at the Russian department of the Christie's...

30 march 2020

Gaetano Cavalieri: We need to protect the long-term health of our industry

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...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

Botswana wants to fully participate in research and development led by De Beers

Although the government of Botswana has refused to review its latest demands from the ongoing negotiations for a new sales and marketing deal with De Beers, it has indicated its desire to fully participate in research and development led by the diamond...

02 march 2020

Grib Diamonds earns almost $20 million from rough auction in Antwerp

24 march 2020
Grib Diamonds conducted another auction on March 23, 2020. 90% of the lots on offer were sold for approximately $20 million. The company announced this in a press release received by Rough & Polished.
Due to the spread of the coronavirus and the cessation of much of worldwide trade, prices were under considerable pressure, said Grib Diamonds in its statement. This decrease in price was anticipated following the diminution in activity in the main centres of sales and processing of rough diamonds.

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Image credit: Grib Diamonds

“Our customers have been with us for many years and understand and appreciate being able to purchase in a transparent manner both in the good times when prices are high but also in the bad times when prices are low. The ability to buy at market prices ensures that profitability is sustained and customers are able to start replacing the cost of their inventory,” said Igor Prokhorenko, CEO of Grib Diamonds. “This is an essential part of our value proposition, and it allows us to see where the market is in downturns and also allows us to move quickly when the market turns upwards again.”

Victoria Quiri, Correspondent of the European Bureau, Rough & Polished, Strasbourg