Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

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...

19 august 2019

Modern state of Indian diamond industry

16 september 2019

In India, there is a primary diamond deposit in Madhya Pradesh (Majahgon) and several alluvial diamond deposits, the total reserves of which are estimated at 2.6 mn carats. The diamond production is small, up to 40,000 carats per year for about US$8 mn. That said, India is the largest consumer of rough diamonds in the world. As the diamond mining in India is small, the country imports significant rough diamond volumes.

Diamond history: The problem of sources

09 september 2019

A large two-volume book ’A Diamond Book of Russia’ was released by the publishing office ‘Gornaya kniga’ in 2014-2015 with the purpose to ‘Show the place of Russia in the world’s diamond market and show the history of creation of the Russian rough and polished diamond industry’. While the aim declared was achieved partly only, the book is a significant contribution to the diamond historiography, the more especially as editors and many authors of this collection could not be taxed with dilettantism – those were the people who dedicated many years of their lives to the diamond industry and knew its finer points. However, the points of view even of the direct participants involved in the key events of the diamond history could be contrary.

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

02 september 2019

Having appreciated the role of the active position of the sectoral public opinion, especially against the background of the system of assessing the quality of adopted laws being introduced in Russia at that time (the ARI system - assessing the regulatory impact of regulatory legal acts), the regulator “helped” create sectoral public organizations more friendly to authorities. It was achieved by strengthening them with staff of their own employees. Thus, in contrast to the former activists, “sectoral public voices” appeared quite loyal to the initiatives of the authorities.

The Kosygin Line and Titan of Diamond Renaissance

26 august 2019

At the end of 2018, the Russky Mir Publishing House published a two-volume edition, titled “The Diamond Industrial Complex of Russia.” The book has a considerable circulation of 2,500 copies for our times, a bulky volume of 1,480 pages, and Vyacheslav Anatolyevich Shtyrov is indicated on the cover as its author. According to the book’s annotation: "The edition is intended for specialists in the mining industry and other segments of the real sector of the economy, managers, economists, historians, teachers and students of all levels of education." The personal website of V. A. Shtyrov announced the publication of this book simply and modestly: “There has been published a history of the ALROSA Company.” Since Shtyrov, who headed ALROSA in 1996-2002, is a major functionary in the Russian diamond industry of the post-Soviet period, such a voluminous work that went beyond his pen will certainly become a significant milestone in diamond historiography and will eliminate many of the contradictions and inaccuracies so characteristic of it. Surely this is how a historian should reason opening this well-published book - designed in a strict academic style - with understandable trepidation. And what will he or she read there?

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

19 august 2019

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.

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