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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

Today

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

Global diamond output to reach 172 mln ct in 2018

20 august 2014

Equity Communications said global diamond output is expected to reach 171.840 million carats in 2018.
It said in a report titled, “The Global Diamond Business 2014” seen by Rough & Polished that diamond producers recovered 130.935 million carats last year, an increase of 2.4 percent from 2012.
Diamond production was projected to rise by 6.7 percent this year led by recovery in DRC and new production from the Grib mine in Russia, said Equity.
“Diamond mining has entered a period of rising output, with the top four diamond mining companies having recovered more diamonds in 2013 compared to 2012,” reads part of the report.
“Cumulative annual growth in diamond production should continue for the remainder of this decade.”
Equity said diamond producers were expected to spend up to $15 billion on new mines and expansions of existing mines in the 10 years to 2018.
“If all projects go according to plan (Zimbabwe included), annual production capacity will likely increase to plus 180 million carats around 2018-2019,” it said.
Meanwhile, Equity said diamond producer sold rough diamonds for $16.772 billion in 2013, an increase of 9.8 percent from 2012.
Diamond producers, it said, would likely have a “bumper” 2014 because of increased production and firmer rough diamond prices.
“Rough diamond prices are generally stronger as we get closer to supply contract renewals by major diamond producers,” said Equity.
“Nevertheless, total sales of rough diamonds will increase by a lower 6.3 percent to reach $17.825 billion in 2014. It is unlikely that Angola will repeat massive stockpile sales in 2014.”

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

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