New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

Today

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

At IDE, we encourage innovation throughout the bourse and have even opened a technological incubator to host start-ups - Yoram Dvash

A first generation diamantaire, Yoram Dvash founded ‘Y Dvash Diamonds Ltd’ in 1991 in Israel. While the company grew and made progress under his leadership, Dvash joined industry organizations such as the Israel Diamond Manufacturers Association (IsDMA)...

09 january 2019

Cooperation and collaboration are the development trend of today

Pavel Grankin runs the Slava Group of companies and holds the Slava trademark (‘Slava’ means ‘Glory’ in Russian). He has graduated from the Mozhaisky Military Space Academy. He did his military service at the Plesetsk Сosmodrome from 1987 to...

04 january 2019

De Beers speaks on Zim invitation to explore for diamonds again

De Beers’ exploration team landed in Zimbabwe in 1993 and left in 2006, however, they first prospected for diamonds in Marange in the late 1990s. Harare, under the leadership of the then president Robert Mugabe, alleged that De Beers looted diamonds...

24 december 2018

Divination for 2019

Today

In Russia, there is a remarkable tradition, an amazing symbiosis of Orthodoxy and pagan rites. Everyone knows that Orthodox Christmas comes after the celebration of New Year’s Day, since the Orthodox Church, unlike other Christian churches, lives according to the Julian calendar. The Russian Empire lived in line with this calendar until 1917. Correspondingly, New Year’s Day itself was then celebrated starting on the night from January 13 to January 14 (according to the Gregorian calendar). Therefore, nowadays Russia has an unofficial and popular holiday with a completely unthinkable name - Old New Year. After the celebration of Orthodox Christmas and on the eve of this Old New Year in Russia, it was customary to try and guess the future. This was done in any exotic ways – everyone was doing whatever he or she could. I decided to follow this tradition on Old New Year's Eve on Monday, January 14th and see what the coming year has in store for us.

On gathering precious and semi-precious stones for mineral collections in Russia

14 january 2019

During the USSR period, trading and dealing in precious stones - both in their rough (natural) and processed (cut and polished) forms – was forbidden for the country’s citizens. They were only allowed to possess cut and polished precious stones inserted in jewellery items. In modern Russia, private market players dealing with precious stones were yet non-existent when the country started to establish gems-and-jewelry industry legislation (having adopted the Federal Law on Precious Metals and Precious Stones on March 12, 1998), except for those that used to mine and cut diamonds in the Soviet period (mined by ALROSA, cut and polished by the Smolensk Kristall factory, and some others).

How the diamond legend was created

09 january 2019

In 1973, the Memoirs by Arseniy Zverev, a prominent People's Commissar (Minister) of Finance of the USSR, who held this position from 1938 through 1960, were published. There is one interesting paragraph about diamonds in this book “One of the aspects of my activity in my new position which I have never faced before was a constant need to keep the track of events about the accumulation of state treasures. There was no information about the Diamond Fund of the USSR that is known to everyone nowadays. However, it did not remain the same but was continuously replenished. Just in 1938, when I focused on this, some diamonds were discovered for the Fund, truly speaking, these were small sized ones from the Urals. At that time, nothing was known about the famous now Yakutian diamonds.” The average weight of the diamonds mined in the Ural area when Zverev was the Minister of Finance was 0.5–0.625 carat (100–125 mg). Were they ‘small-size diamonds’?  And this is about the ‘famous now Yakutian ones’ “As expected, the diamond content in the Vilyui diamondiferous alluvial deposits was higher than in the Ural fields. However, the local diamonds ranked below the Ural ones in size. The average diamond weight in the Vilyui alluvial fields was from 20 mg in the ‘Sokolinaya’ Kosa [tongue of land] up to 8-9 mg in the ‘Rybachya’ Kosa. Zverev was very well aware of the Ural diamond sizes and quality which is confirmed by his correspondence on the creation of the collection of the Geological Museum named after A. P. Karpinsky, the Academy of Sciences of the USSR.3  What led him to make such a strange ‘mistake’ in his Memoirs?

2018: The Year of the Lab-created Diamond

04 january 2019

News flow out of the diamond industry in 2018 has been dominated by the progression of lab-created diamond production, distribution and pricing dynamics. Numerous new players have entered the space, production capabilities have improved and supply has been scaled. This year alone, the price differential of a generic 1-carat lab-created diamond has fallen by almost 50% relative to the price a comparable natural diamond (the discount in late-November of 42% has risen from 29% in January). In late-May, industry bellwether De Beers1 crossed the Rubicon, announcing the company would be entering the lab-created diamond jewelry space through a subsidiary called Lightbox. The move implies a nuanced strategy with a general aim at differentiating consumer perception of lab-created and natural diamonds. In late September the product became available to consumers exclusively through the company’s website with the notable item a 1-carat solitaire pendant offered for $800 plus a nominal setting fee. At the time of launch an equivalent-quality 1-carat generic lab-created diamond was selling for around $3,700.

The use of new technologies in diamond industry

24 december 2018

New technologies in diamond mining (and in the mining industry as a whole) are mainly represented by robotics in the production process. Robotic devices based on artificial intelligence can perform a variety of tasks, including drilling and blasting, loading and transporting ore, sampling and even rescuing miners from underground workings in emergency.

What you need to know about new Zim diamond policy

17 december 2018

Zimbabwe recently announced its long-awaited new diamond policy, which limited diamond exploration and mining in the country to only four companies. The state-owned Zimbabwe Consolidated Diamond Company (ZCDC) and Murowa Diamonds, which are currently mining diamonds in the country would be joined by two unnamed new players, to make up the four.

Lie detector: Russian scientists invent the instruments to fight against polished diamond fraudsters

10 december 2018

Detectors enabling to distinguish between natural rough and polished diamonds and synthetic ones appeared in Russia. This shows the joint efforts of the Russian diamond miners, scientists and jewelers to stand against the inflow of synthetic diamonds. Notwithstanding that the price for the detectors is high today, their manufacturers promise to offer more affordable ones to the jewellery community and consumers next year.

The "Jubilee" Speeches

03 december 2018

The renewed “long-term” strategy of ALROSA for 2018-2024 gave rise to a lively discussion, which was pro-actively joined by the CEO of ALROSA itself. The key issue was the lack of any plans among the company's management to restore the flooded underground Mir mine. Sergey Ivanov Jr., having called nonsense the opinion of "some" analysts, who drew attention to the fact that the published version of ALROSA’s Strategy does not provide for the restoration of Mir, clarified that as soon as such a project is agreed, it will immediately appear in the same Strategy.

The use of the Gokhran diamonds in industry: a myth or truth?

26 november 2018

The statement about the use of the Gokhran polished diamonds in the USSR industry as industrial diamonds was very common in the specialist literature. For example, “The attempts to set up a regular legal import of diamonds failed: in the climate of military and political confrontation between the USSR and Western countries and the subsequent ‘cold war’, foreign diamond suppliers, first of all De Beers, refused to trade with the USSR. The Gokhran polished diamonds were the other source of diamond tools: the stones were removed from the confiscated jewellery pieces and then recut.” ‘Failed attempts’ to import legally were just a tribute to the industry legend, the archive documents confirm that the USSR, in fact, did not have the slightest problems in importing industrial diamonds. And the issue of the Gokhran polished diamonds requires further study as there were cases of their industrial use.

The tobacco is excellent. The pipe of peace is put out.

19 november 2018

"We lit the pipe of peace. The tobacco is excellent." Actually, the establishment of the Soviet diamond mining industry started with this coded telegram sent by the geologists who discovered a primary diamond deposit in Yakutia. For the diamond industry of the Soviet Union and that of Russia, the legendary kimberlite pipe named Mir (which means ‘peace’ in Russian) is the same as the Vostok spaceship for the Russian cosmonautics. Mir is the first primary diamond field launched into commercial operation. The largest diamond in Russia was unearthed at Mir. The Mir open quarry is visible from space. The City of Mirny, which is the capital of Russia’s diamond province, grew around the Mir mine. Mir earned tens of billions of dollars for the country and became a world-famous mining engineering facility. The underground mine of the same name was launched in 2009 in the presence of Vladimir Putin. The mine was flooded in 2017 as a result of a technogenic catastrophe, taking away the lives of several miners.

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