High-tech trend is most promising for industries using diamonds

Synthesis Technology is a leading diamond producer in Russia. The company produces carbon single crystals - lab-grown diamonds and single-crystal wafers. The diamonds completely identical to natural ones are ‘grown’ at the laboratory using advanced HPHT...

25 february 2020

Diamex Lab: Our technology allows you to trace the history of the origin of each stone

Gleb Sverdlov, CEO of Diamex Lab told Rough & Polished in his interview below about the development of IT technologies for the market of rough and polished diamonds and jewelry.

17 february 2020

The future of the market goes hand in hand with gemology

After 2019, a challenging year for the global diamond industry, we asked Yuri Shelementyev, head of the Moscow State University (MSU) Gemmological Center and president of the National Gemological Association (NGA), to share his views...

10 february 2020

Diamond industry in healthier position going into 2020

The diamond industry is in a healthier position going into 2020 due to actions taken last year, according to De Beers. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa that the actions taken included reducing rough diamond production...

03 february 2020

Ethical sourcing and Diamonds Standards Organization

The diamond sector is ready to embrace a new decade and overcome some of its historical challenges. Ethical sourcing has proven to be undoubtedly one of the main aspects that industry professionals need to address. Antonio Cecere, President of Geneva...

27 january 2020

Retail Margins Could Be Boosting Man-made Diamond Sales

25 february 2020

While lower prices as well as marketed ethical and sustainable benefits relative to that of natural diamonds has been the prominent narrative around man-made diamonds, a seemingly less-obvious factor is also likely helping to drive the product: the profit margin they offer retailers. When analyzing the wholesale and retail prices of unbranded man-made and natural diamonds, it appears that the retail gross margin of man-made diamonds in popular carat-sizes is as much as 1.8-times that of natural diamonds.

Palladium: a ‘bubble’ that is more expensive than gold

17 february 2020

The palladium price surge in 2019-early 2020 sets it apart from the rest precious metals. Palladium mainly used in catalytic converters for exhaust gases has outstripped the most popular precious metals in 2019 having risen in price by $ 700, to $ 1,920 per ounce. In January, palladium futures reached $ 2,500 showing a 75% increase over 12 months due to the news about declining the production in South Africa and signing the first part of a trade deal between the USA and China. The reason is the limited supply and increased demand due to tightening environmental standards in Europe and China. Despite the fact that the palladium price rally is explained by fundamental factors, the precious metal value growth rate has already exceeded all expectations and worried even Norilsk Nickel, the main palladium producer and the beneficiary of price increases.

Mountain Province Diamonds company in 2016-2022 and its prospects for the development until 2030

10 february 2020

Canada is in the pool of the top diamond-mining countries in the world ranking third in terms of the value of the diamonds mined. In 2018, according to the Kimberley Process, 23.2 mn carats of diamonds worth nearly $2.1 bn were mined in the country. The average price of one carat of Canadian diamonds was $90.44. Diamond mining in Canada is carried out by De Beers Consolidated Mines and Mountain Province Diamonds Inc. Mountain Province Diamonds Inc. is the main (49%) De Beers Canada’s partner in diamond mining at the Gahcho Kué deposit in Canada’s Northwest Territories.

Why is it that Jim and Rob may do what Ivan and Vladimir may not?

03 february 2020

Any legislative innovation in the Russian Federation is adopted, of course, with the aim of ‘improving the legislation’ governing such-and-such for the good of people. However, judging by the new rules governing the circulation of precious and semiprecious stones in the EAEU, the most perfect legislation is the one that introduces total bans on everything and anything. It prohibits not only the sale and purchase transactions, but even the storage of precious stones - under threat of administrative and criminal penalties.

Israel as a global diamond centre

27 january 2020

Israel is one of the diamond hubs - a centre where not only rough and polished diamonds are traded, but also the diamond manufacture, especially of large-sized stones, is maintained. The Israeli cutting companies are at the cutting edge in the world, they are equipped with the most up-to-date equipment, which is very sophisticated and developed mainly in the country. The Israeli technological advances, such as diamond cutting lasers, roughing machines, automatic grinding machines and CAD systems are used today throughout the global diamond industry.

Will precious stones in Russia be set “free from restraint"?

20 january 2020

Speaking skeptically about the liberality of Federal Law 41-ФЗ “On Precious Metals and Precious Stones” (hereinafter referred to as “Law 41-ФЗ”) enacted on 03.03.1998 with respect to the circulation of precious stones, I allowed some simplification in my previous articles without going into the smaller details of the legal regulation governing this industry branch. In fact, the main prohibitive role in this regulation was played not by Law 41-ФЗ itself, but by-laws adopted on its basis and with a purpose to further develop it. This simplification did not have much significance, because the effect was still integral in nature. But when the “regulatory guillotine” came into the scene, it became clear that this project is a unique “window of opportunity” for eliminating the entire regulatory overlay, which makes the conditions for real work on the market of precious metals and precious stones entirely improper, however using for this the relatively decent legislative industry norms. So, it becomes all the more urgent to raise these “nuances” now, when the Ministry of Finance of Russia itself proposes to add the by-laws that actually block the normal retail circulation of precious stones in the Russian market to the list of decrees, which cease to be in force.

China's third way in the global diamond business

09 january 2020

The rapid social and economic development of China in recent decades has allowed this country to become one of the world leaders and centers of power. China currently holds key positions in the world in the production and consumption of the most important mineral raw materials. The diamond market is not an exception, in which China, having surpassed Japan, confidently ranks second behind the USA. With a further increase in the well-being of the population, and having an enormous potential in increasing the consumption of luxury goods, the country has every chance to take first place in future both in the consumption of diamonds and diamond jewelry and in the production of laboratory-grown diamonds (LGD). Moreover, now in China, the production of the LGDs for technical purposes has reached stratospheric levels and their cost has decreased so much that the diamond mining for technical purposes is already a thing of the past.  

A Year Not to Remember

30 december 2019

As the industry is closing for the New Year holidays, it is the right moment to reflect back on the past year and look forward to what that future will bring us. 2019 certainly was a remarkable year but for many, but not a year to remember.

FATF Recommendations and fight for cleanliness of financial market in Russia

23 december 2019

No one doubts that terrorism is awful and laundering of illicit income is bad. But why should the accomplices of terrorists, corrupt officials and all sorts of fraudsters be considered fools ready to launder their fraudulent gains through tools unsuitable for this purpose, which obviously leads to the loss of most of their cash? Money laundering through jewellery? Doing this in an era when cryptocurrencies are becoming increasingly more accessible and the liquidity of jewellery in the secondary market is getting lower and lower? Let's see if we are not ‘going too far’ in the fight for the cleanliness of our financial market when it comes to controlling the circulation of jewellery in compliance with the requirements of anti-money laundering and combating the financing of terrorism (hereinafter referred to as AML/CFT). To begin with, we will analyze recommendations made by the FATF in its document entitled “International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation – the FATF Recommendations”.

Will the crisis unfold in the global diamond market?

16 december 2019

This year, a well-known global diamond business analyst, Chaim Even-Zohar, published the structure of the global diamond pipeline in 2018 (Diamond Pipeline 2018. IDEX Magazine No. 4, April 2018). This time, such enterprises as ALROSA, De Beers and others appeared in it. The fast-growing market for synthetic rough and polished diamonds is shown, which already accounts for 5% of the natural market. The forecast for 2018 on the natural diamonds sales was $15 bn, and the value for cutting diamonds in Russia was $300 mn.

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