Oil discovery in Namibia: Lessons that can be derived from diamond mining

Shell confirmed the discovery of light oil at the Graff-1 well offshore Namibia in early February, which marked the first oil find for the southern African country. The Graff-1 well was drilled to a total depth of 5,376 meters in water depths of approximately...

16 may 2022

Jewellers’ costs for self-control are rising

The fact that there is an intention in Russia to replace traditional currencies - the dollar and euro - for gold as an investment tool for the population became clear even when the Tax Code of the Russian Federation was amended to allow the sale of refined...

09 may 2022

Diavik begins winding down diamond mine

(nnsl.com) - The City of Yellowknife will be feeling the effects of Diavik Diamond Mine’s closure in 2025 as ramping down has begun. “We start decommissioning our first underground pipe later this year, and surface mining ends at the beginning of next year,” Cherish...

16 may 2022

Panic Grips Billion-Dollar Trade Over Russian Diamond Ban

(bloomberg.com) - US restrictions on Russia’s giant diamond miner are causing panic across the industry. Traders are hunting for workarounds to keep tapping one of the world’s main sources of precious gems. Russian mining giant Alrosa PJSC supplies about a third of the...

13 may 2022

Strange Bedfellows: Diamonds, Blockchain and ESG

(luxuo.com) - You have visited a jewellery store online and a diamond ring caught your attention, curious as to how it will look on your hand, you make your way to the store to have a look at the piece. The diamond ring is of the highest quality: in terms of cut...

13 may 2022

Metals Focus: Platinum market surplus to fall by 40% this year

Today

Metals Focus, a leading independent precious metals market research firm, said it expects the surplus in the nearly 8-million-ounce-a-year platinum market to be down 40% this year from 2021 to 477,000 ounces with platinum trading at $990 an ounce.

Alexey Moiseev opens jewelry exhibition dedicated to the 220th anniversary of the Russian Ministry of Finance

Today

Russia’s Ministry of Finance hosted the ceremony inaugurating the jewelry exhibition dedicated to its 220th anniversary. The exposition will be available to the ministry’s employees and guests from May 16 to May 20. The exhibition presents unique works of CHAMOVSKIKH, Goznak, Argentov, Ilgiz Fazulzyanov, Evgeny Butenko, Nikolai Balmasov, and Rodis.

Synthetic diamonds poised to expand their market share

Yesterday

Speaking at the Investing in African Mining Indaba on Monday, Botswana's Minister of Minerals and Energy Lefoko Moagi said the ban on Russia diamonds might push prices up to the benefit of rival producers, but he also said the gap would be hard to fill.

Brilliant Earth Group increased sales by 41.5% in the first quarter

Yesterday

Brilliant Earth Group, an innovative digital jewelry company and a global leader in fine jewelry, announced its first-quarter 2022 sales of $100 million, up 41.5% year-on-year. The company's net income for the first quarter was $3.4 million.

Investment platform, LUXUS, gives investors opportunity to invest in rare diamonds and gems

Yesterday

Backed by American entrepreneur and fashion designer Veronica M. Beard, current and former Blackstone executives, and other notable investors, LUXUS will partner with Kwiat/Fred Leighton to launch inaugural rare Argyle pink diamond.

WPIC: Platinum supply fell 13% in the first quarter, while demand went down by 26%

16 may 2022

The World Platinum Investment Council (WPIC) said in its latest quarterly report that year-on-year quarterly supply and demand were down more than expected, at 13% and 26% respectively.

Titan reports profit of Rs 232.68 billion in fiscal 2022

16 may 2022

Indian jewelery maker Titan, part of the TATA Group, has reported a profit of Rs 232.68 billion in fiscal year 2022. This will allow Titan to increase its core jewelry business by a factor of 2.5 in the course of five years opening more than 600 jewelry stores in 300 cities within the next three years.

Pandora will build a factory in Vietnam able to churn out 60 million pieces of jewellery every year

16 may 2022

Pandora, the world’s largest jewellery brand, signed a memorandum of understanding to build a new jewellery crafting facility in Vietnam Singapore Industrial Park 3 (VSIP) in Binh Duong Province, about 40km north of Ho Chi Minh City. The new facility will be owered by 100% renewable energy. It will create jobs for more than 6,000 craftspeople and have an annual capacity of 60 million pieces of jewellery.

Waiting for Godot?: Botswana Diamonds awaits Zim kimberlite concessions application outcome

Diamond explorer, Botswana Diamonds applied for kimberlite concessions in the Northwest of Zimbabwe in late 2020. Company managing director James Campbell told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that they are still waiting for...

16 may 2022

“The demand far exceeds the supply,” says Dev Shetty, Founder-President & CEO of Fura Gems

In 2017, after a decade as chief operating officer and board member at Gemfields a coloured gemstone mining company, Dev Shetty took the courageous step of starting, from scratch, a mining company. He named it FURA Gems. Today, it is one of the largest...

09 may 2022

Igor Kulichik: The diamond market is now in the initial phase of turbulence

Igor Kulichik is a well-known expert in the diamond market. He has worked in the diamond industry for 20 years: he was CFO of ALROSA from 2002 to 2017, and a member of the Board of Directors of AGD Diamonds from 2018 to 2022. He is also a member of the...

02 may 2022

There is a classic phrase: “Art is an Ambassador of Peace.” And this is true

Chief Expert of the Gokhran (State Valuables Depository) of Russia Veronika Voldaeva, Art History Ph.D., Honored Worker of Culture of the Russian Federation, author and compiler of the decorative and applied section of the Gokhran’s collection...

25 april 2022

DiaMondaine Diamond Club: Fostering cross-industry networking, ethical sourcing and transparency

The diamond industry had been promoting a culture of ethical sourcing and transparency as studies have time and again revealed that consumers, particularly the younger generation, are increasingly concerned about such matters. DiaMondaine Diamond Club...

18 april 2022