How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

Yesterday

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Platinum looks to the hydrogen future

Yesterday

The platinum investment portfolio lacks a strong technology push like the one experienced by palladium in 2015 due to ‘Dieselgate’. The scandal that revealed that gasoline engines were more environmentally friendly than diesel ones*, undermined the platinum's position in the automotive industry and laid the basis for a palladium rally. As a result, the palladium prices exceeded the price of platinum in mid-2017, and the gap has widened since then. Platinum is now at the last year’s level, which may be not so bad for most commodities given the current crisis this year but worse than gold (+24%), palladium (+24%), and rhodium (+29%).

Diamond industry of Angola

27 july 2020

Diamond mining in Angola dates back to 1917 when a consortium of Belgian, English and Portuguese investors established Companhia de Diamantes de Angola, or Diamang. In 1961, a civil war broke out in Angola against the Portuguese colonialism. In 1975, Angola gained independence. In 1981, ENDIAMA, Angola's state-owned diamond company, was set up based in Luanda, the capital of Angola. In 2002, Angola joined the Kimberley Process Certification System. At the end of July 2020, the annual report for 2019 was released.

ALROSA: crisis and diversification

20 july 2020

The diamond industry has already suffered heavy losses due to the pandemic. In fact, today rough diamond sales are suspended globally, and so far, the time limits for this pause are unclear. The possible ‘second wave’ of COVID-19 threatens with new losses, which may result in aggressive measures to save the diamond mining companies, the most capital-intensive part of the ‘diamond pipeline’. Against this background, the old discussion about the diversification of ALROSA’s products is particularly urgent, which, from the point of view of some participants, can be considered as a real anti-crisis measure to hedge the risks due to the current problems facing the rough and polished diamond industry.

Is the end in sight for Sights?

13 july 2020

With all the changes occurring in the diamond supply pipeline, the big miners may consider the ways they sell their rough to the downstream market.

The state and utilization of rough diamonds in the Russian Federation

06 july 2020

The Russian Federation has the world's largest diamond resource base - the gemstone reserves in the country's interior are nearly 1,135 mn carats. In addition, Russia accounts for huge impact diamond reserves in the amount of 268 bn carats. Russia is a world leader in the production of rough diamonds: in 2018, 43.2 mn carats worth $3,983 mn were recovered in the country.

Diamond production in Russia and Yakutia in 2008-2019

29 june 2020

Given the slowdown in rough diamond production of mining companies across the world caused by the coronavirus pandemic, it seems interesting to see how diamond mining has developed over the past decade.

CATOCA. The Sirens of Angola

22 june 2020

Like the sweet-voiced Sirens, Angola has been attracting diamond seekers for over 100 years. But be vigilant, sailor - do not let yourself be deceived by the enchanting singing of winged nymphs. The amazing creations of the ancient Greek genius would have certainly found what to do in this African country if they had the pleasure of visiting the Sociedade Mineira de CATOCA (CATOCA Mining Society).

Only natural diamonds? No. Only diamonds!

15 june 2020

The Diamond Producers Association (DPA) has rebranded itself and now exists as the Natural Diamond Council (NDC). Recall that this organization came to life in May 2015 with the aim of re-creating the generic marketing of diamonds, which virtually ceased when De Beers abandoned monopoly regulation of the diamond market. It took longer to negotiate the form of existence of the DPA than implement the stated goals; therefore, no particular success was achieved in generic marketing. The decline in consumer interest towards diamonds, especially on the part of millennials, is felt quite distinctly by the market.

Outlook for diamond sales remain uncertain as digital bids gather momentum

08 june 2020

The diamond industry is feeling the heat from the economic impacts of the coronavirus pandemic, which is currently ravaging the world in a way last seen in 1918 when about 500 million people – a   third of the world’s population at the time – were infected by the so-called Spanish flu. Global demand for diamonds has plummeted by more than 50% since March compared to the same period last year, according to Endiama director general Pedro Galiano.

Post COVID-19 Scenario: A stronger and more organized Indian diamond industry to emerge

01 june 2020

As India went into ‘Lockdown 4.0’, analysts from the Indian G&J industry believed that many of the Surat's diamond factories will not survive COVID-19, especially the city’s 5000 odd units that form 90% of the manufacturing units which are small unregistered and vulnerable. Surat, the cutting-and-polishing hub had been dormant since the COVID-19 lockdown was imposed on 25 March, until recently. Besides, as most of the units are small, and the nature of cutting and polishing typically needs four workers to operate near each other, implementing any kind of social distancing rules are unlikely when lockdown eases. Another major issue will be the shortage of workers, as an exodus of unpaid migrant artisans has returned to their villages in Gujurat. More than 400,000 have already left Surat, maybe for good. And, it is estimated that about half of the city's 750,000 diamond workers, who are still in the city may eventually resume work at the larger units.

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