Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

Today

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

How the Largest Jewelry Companies in the World are Marketing Lab-Grown Diamonds

Today

During a four-hour-long analyst event in September, the largest fashion-jeweler in the world, Pandora, provided an update on its recent foray into lab-grown diamonds. The line, branded as “Pandora Brilliance” is currently being tested exclusively in the company’s UK market, however, management said that a global rollout decision “will probably come towards the end of the year” as the company is still “learning how to maneuver in the space.”

Mining and biodiversity conservation in Africa

18 october 2021

Krasnoyarsk hosted an international ecological summit, "Siberian Perspectives," which was held on October 1-2, 2021. Its participants discussed the role of large industrial businesses in biodiversity conservation. Mathew Nyaungwa, Editor in Chief of the Africa Bureau at Rough&Polished made a presentation at the event comparing the positive and negative experiences of mining companies in crisis situations and their actions to protect the environment and promote biodiversity.

Coffee break with diamonds

11 october 2021

This year marks the fifth anniversary of the ALROSA’s project to start exchange trading in investment diamonds. Of course, this attempt, like all the previous ones, was a failure. A number of similar foreign initiatives also failed almost at the same time. This gave reason for intellectually solvent analysts to insist again that it is impossible to use polished diamonds - and even more so rough diamonds - as an underlying asset for creating investment instruments. Rough or polished diamonds are not an exchange-traded commodity and never will be such, as the practice has shown. It seems to be an axiom. However, over the past five years, interesting trends have emerged in the industry, making us to look at the problem not so categorically.

Diamond market argues against correction, helped by Beyoncé

04 october 2021

By September, the consensus in the diamond industry on the near-term outlook has become less optimistic despite the holiday season approaching. The majority of the market participants and some experts believe that the market can get new arguments for continued growth as long as there is a shortage of supply and consumer demand in the US remains strong. The other players are of the opinion that the high prices and excessive inventories could result in a bubble beginning to deflate at the slightest cooling off of the consumers to jewelry. Anyway, one cannot but agree that the peaks in the polished diamond prices look dangerous this autumn, when the correction does not spare even such unquestionable beneficiaries of economic growth as palladium and copper. And the structural shortage of semiconductors does not lead to sky-high growth of the manufacturing companies, but, on the contrary, puts pressure on their financial performance, as supply disruptions force the key customers - Volkswagen and Apple - to cut their production. These recent examples indicate that neither bright prospects and demand, nor acute shortages guarantee a long and stable growth. The industry is reacting proactively, involving Beyoncé-class stars to promote its products. But will the polished diamonds be an exception?

Reflecting on artisanal diamond mining in Africa

27 september 2021

The World Bank has estimated that there are more than 41 million people in the artisanal and small-scale mining (ASM) sector across the globe. The Resource World noted that there were more than 100 million artisanal miners globally in 2019. ASM, it said, accounts for up to 20% of diamond mining. ASM diamond mining is mainly done in Africa. Although this sector in Africa had been associated with illegal diamond mining as some governments failed to provide technical support and create an enabling environment, De Beers is making a difference starting with the Kono District in Sierra Leone. Through GemFair, De Beers started supporting the formalization of the ASM sector in 2018 by raising standards and opening up a new source of ethical diamond supply through the group’s industry-leading distribution channel. It started with 14 member sites to create a secure route to market for ethically-sourced artisanal and small-scale diamonds.

PGI: Platinum jewellery sales indicate increase in Q2 2021

20 september 2021

Platinum Guild International (PGI), in its annual report The Platinum Jewellery Business Review (PJBR), analysed the retail sales of platinum jewellery, trade performance and consumer sentiments in its four key International markets - China, India, Japan and the USA - concluding that China’s economy maintained its recovery momentum into Q2 2021. In India, the economy bounced back, despite the disruptions caused by the second wave of COVID-19, and business started to reopen in the first week of June. Japan’s GDP for Q2 rebounded and delivered better than expected growth. In the US, GDP recovered to pre-pandemic levels despite potential headwinds from a new COVID variant. Platinum jewellery sales of PGI’s strategic partners saw a notable increase in Q2.

Is the trend of ‘engagement watches’ here to stay?

13 september 2021

The engagement ring has a long history, and the concept dates back to the ancient Egyptians. They believed circles to be the symbol of eternity and would exchange handmade rings made from braided reeds. However, in the past 5,000 years, new trends have come up in the world of engagements and proposals globally. Weddings have evolved greatly and while some maintain certain traditions, others venture way out of the box and add personal touches. The engagement trend we are seeing now is more of the ‘engagement watch’.

Polished diamonds and inflation

06 september 2021

It should be noted that in previous years, there was little or no correlation between the movement of the IDEX Diamond Index and the S&P 500 Index. The current situation most likely suggests that the two indicators under consideration are influenced by identical factors, which is understandable as the United States is still the world’s largest consumer of polished diamonds and, apparently, will maintain this status for a long time to come.

“Bling” lovers: Hip-hop culture to be a new driver in the promotion of diamonds

30 august 2021

Whom do you imagine when thinking of expensive diamond jewelry? A bride wearing an engagement ring? A wealthy lady at a social event, a vastly fashionable passtime? A movie star on the red carpet in Cannes? If you think in these categories only, you are doomed to miss out on something interesting. Hip-hop superstars wear jewelry worth thousands and millions of dollars, and thousands and millions of their fans would like to look like them. It remains only to pay attention to this vacant niche and be among the first to occupy it.

“Sun stone” - Russia’s treasure

23 august 2021

Amber has attracted people's attention for many centuries. They made amulets, jewelry from it, decorated the interior with it and used it for medicinal purposes. Now this “sun stone” is gaining momentum and the amber industry is booming. Let's take a closer look at the prospects of this area in Russia in comparison with other “amber” countries. The Kaliningrad region contains 90% of the world's amber reserves, and the main developer of amber deposits is the Kaliningrad Amber Combine. The media are full of news that the plant continues to extract large pieces of amber. Recently the workers of the plant found a 2.5 kg amber stone following the extraction of a stone weighing 12 kg. In honor of the Day of Russia this “sun stone” was named the “Soul of Russia”, as reported by the press service of the enterprise. The rounded stone found by the workers of the Primorsky quarry has a light honey color. Amber stones weighing more than 2 kg are very rare, therefore they are highly valued on the amber market.

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