The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

Today

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

Lobbying in the Russian market of precious metals and precious stones – How does it look like?

Today

Is it possible for the Russian market of precious metals and precious stones (PMPS) to compete for its economic interests? Yes, it is possible but taking into account a number of both objective and subjective (for the industry) factors. The more than twenty years of experience in public work in the field of PMPS allow the author of this article to break the history of public struggle for the liberalization of the PMPS market in five stages, each of which has its own characteristics and its historical significance for the industry.

A new normal in the diamond trade

12 august 2019

ABN Amro Bank recently sent a letter to several of its diamond clients stating that it would be limiting finance for rough purchases "in view of the continued lack of profitability in the purchase of rough goods. We recommend you to show constraint and only consider purchasing rough when there is sufficient profitability. We want our clients to … refrain from purchases just with the aim to hold on to existing allocations with the mining companies or just to remain fixed to sources only hoping for better times to come.”  In other words, continuing to lend to businesses that cannot turn a profit is not what ABN Amro will do. What can one say about this?

Is the Diamond Industry Really in a Crisis?

05 august 2019

Diamond industry conditions have recently been described as a “crisis.” In some segments of the industry anecdotes of “no business” have surfaced as well as “no demand” for certain categories of diamonds. A representative for a leading trade group of manufacturers in India has recently said the current “recession” is “worse than the one witnessed in 2008-2009” during the global financial crisis.

The KP Elephant In The Room Has To Be Dealt With

29 july 2019

The Kimberley Process Certification Scheme (KPCS) Intersessional Meeting in Mumbai completed its half yearly meeting three weeks ago. It gave us some time to reflect on why the KPCS agenda is moving so slowly.

Diamond manufacturing segment in the diamond industry of the Russian Federation

22 july 2019

Taking into account that AK ALROSA PJSC incorporated in Yakutia has a diamond cutting unit, the results of its diamond cutting factories in other parts of Russia should be considered together with the results of the diamond cutting industry of Yakutia in spite of their location. ALROSA rejected the vertical integration concept in 2013 and uses the Group’s diamond cutting factories to monitor rough diamond prices. That said, the polished diamond sales by value are comparable with - or even exceed - the sales of all the major companies of the Russian diamond cutting industry.

ALROSA and Mugabe's legacy

15 july 2019

Earlier this year, ALROSA announced a new testing ground for its activity in Africa. This testing ground, unexpectedly for market analysts and African experts, was Zimbabwe, the country that survived the fall of Robert Mugabe’s seemingly unshakable regime in November 2017 and now interested in an inflow of foreign investment to revitalize its economy. In the beginning of the 2010s, this country was claiming to be one of the world’s top three diamond producers, but currently, for natural and man-made reasons, it occupies modest positions. Nevertheless, according to the management of ALROSA, Zimbabwe, along with Angola, is one of the two African countries with a very high geological potential.

The large diamond recovery technologies used at the national facilities and abroad and their development prospects

08 july 2019

The technologies to recover large rough diamonds from the ore deposits both in Russia and abroad include the disintegration, classification and direct beneficiation according to size categories. The difference lies in the equipment and technological processes used at each of these stages. The fundamental difference of the national technology is in the disintegration of the diamond-bearing raw material in primary crushers, up to 400 mm, and then autogenous grinding mills are used, while at the factories abroad, three-stage crushing is used. However, this is exactly what leads to different rates of recovering undamaged large stones.

Jewelry industry and the state: not a priority area

01 july 2019

It should be noted that the entire sphere of precious metals and precious stones (PMPS) was unlucky from the very arrival of capitalism to the space of the former USSR. 1993 gave the start to the “diamond scam” as it was later called, the main figure of which was Andrei Kozlenok, the founder of Golden ADA, Inc. It doesn’t matter if it was a really planned scam, or it was a common management mistake due to inexperience, but unlike all other sectors of the economy, the PMPS sphere did not receive that degree of freedom, which all other areas had from the very beginning, when the country’s economic legislation was liberalized during the ongoing privatization.

JCK Las Vegas 2019 through the eyes of an exhibitor

24 june 2019

The JCK Las Vegas Show is the largest and most representative jewelry exhibition in North America. More precisely, it embraces several exhibitions going on at more than 20 pavilions, which bring together about three thousand different companies from various countries engaged in the jewelry business for a whole week in Las Vegas - the so-called Las Vegas Jewelry Week.

In anticipation of ALROSA shareholders meeting: Results of 2018 and prospects for 2019

17 june 2019

At the end of June 2019, a General Meeting of Shareholders will be held, where the results of 2018 will be summed up and the ALROSA’s shares dividends for 2018 will be decided on. Taking into account the interim dividends paid for the first half of the last year in amount of ₽43.7 bn, or ₽5.93 per share, the money will be allocated for dividend payments based on the H2 2018 results. The Supervisory Board of ALROSA recommended the General Meeting of Shareholders to allocate 100% of the free cash flow for the dividend payments, which makes ₽30.3 bn, or ₽4.11 per share.  

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