Pandora’s endorsement of lab-grown stones will not devalue natural diamonds – Zimnisky

Jewellery retailer Pandora recently announced that it will no longer purchase natural diamonds as it had switched to lab-grown diamonds. However, diamond market analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that...

07 june 2021

“The volume of Forevermark diamonds that we drive through Indian partners is much higher than in other parts of the world,” says Sachin Jain

Sachin Jain has been a part of the Indian arm of De Beers that dates back to 2010 when he came on board as Head of Retail. In year 2014 he took over as President of Forevermark and today he is the Managing Director of De Beers, India. His single-minded...

31 may 2021

GSI's new Jaipur office to specialize in colored gemstones

Gemological Science International (GSI) has opened a new laboratory in Jaipur, India. Since this state is the capital of colored gemstones, the laboratory will have a dedicated division specializing in colored gemstone geographical origin and...

24 may 2021

“We welcome the mandatory hallmarking in the interest of consumers, but it is also essential to have proper and evenly spread infrastructure across India,” asserts Ashish Pethe, Chairman, GJC

Ashish Pethe, Chairman of All India Gem and Jewellery Domestic Council (GJC), formerly known as All India Gems & Jewellery Trade Federation (GJF) is based in Mumbai. As the third-generation heir of M/s Waman Hari Pethe Jewellers established...

17 may 2021

ALMAR is a case in point that will serve to develop the process of funding junior companies and geological exploration in general

Arkticheskaya Gornaya Kompaniya (AGK, Arctic Mining Company) develops the diamond deposits in the Lena-Anabar diamondiferous sub-province of Yakutia under the ALMAR (Diamonds of the Arctic) brand. This company attracts investments for...

10 may 2021

On the monograph by N. G. Khromova “Diamond Facets of Russian-Indian Cooperation”

07 june 2021

In 2020, RUSCIENCE publishers, Moscow, released the monograph by N. Khromova “Diamond Facets of Russian-Indian Cooperation” (Russian: Алмазные грани российско-индийского сотрудничества). As the abstract says, “The monograph - for the first time in Russia - gives a comprehensive analysis of the prerequisites and trends of the Russian-Indian cooperation in the diamond industry in 1992-2018. It contains some practical recommendations for the development of the domestic rough and polished diamond industry and offers some promising forms of Russian-Indian cooperation in this sector of the economy. In addition, the issues of the development are studied and the individual characteristics of the Russian and Indian diamond industries are considered ....” The large-scale analytical studies of the diamond market by the Russian authors are relatively rare and deserve very close attention, at least because of Russia’s role in the global diamond industry.

China’s gold market development portrays solid, on-going and for the long term

31 may 2021

In one of its past studies of the Chinese gold market, the World Gold Council (WGC) talks about the formation of this market and draws a number of conclusions that are of interest today having been confirmed by the development of the gold mining industry in China.

Prospects for global diamond mining in 2021 - highly cautious optimism

24 may 2021

According to the estimates of the international consulting company Bain & Company, the world diamond production in 2020 decreased relative to 2019 by 20% to 111 mn cts1. Industry analyst Paul Zimnisky gives a similar estimate of 113 mn cts2. One question currently worries all those involved: How quickly will the diamond industry recover from the COVID-19 crisis? In February-March 2021, many diamond miners published their data on their performance in 2020 and the guidelines for 2021. Based on the data, we try to understand the current situation in the upstream, which is basic for the industry.

Pandora Brilliance: Ethics or Profit?

17 may 2021

In early May, Pandora, one of the world's top jewelry makers, while introducing Pandora Brilliance, its new lab-grown diamond jewelry collection, announced that it would no longer use natural diamonds. The move and the company's statement in which lab-grown diamonds were positioned as an ethical choice versus natural diamonds, generated a wide response in the professional community, as well as in the mass media. Calling Pandora’s narrative false and misleading, several natural diamond industry organizations asked the jeweler to correct its statement. Meanwhile, the media carried a whole gamut of comments on the subject. For its part, Rough&Polished invites readers to get acquainted with the opinions expressed by experts Sergey Goryainov and Richard Chetwode.

The diamond market to come back to normalcy

10 may 2021

The diamond market can return to normalcy after its impressive growth at the beginning of the year thanks to strong jewelry sales, rising profit margins for cutters and a shortage of rough diamonds. Midstream margins have decreased as the diamond prices continue to rise suggesting that the market is overheated. Clients become less loyal to the new price rises recalling that as the summer season approaches, the business may slow down. In addition to the seasonal lull, the downside risks in the diamond market are fueled by the data on the rise in COVID-19 infections in Europe and India.

Impact diamonds: An opportunity or a wildcat venture?

03 may 2021

Almost every year, the Russian press reports on the future development of the Popigai deposit of impact diamonds in the north of the Krasnoyarsk Territory. These “sensations” have already grown more and more detailed, including the relevant agreements between the Siberian Branch of the Russian Academy of Sciences, the leadership of the Republic of Sakha (Yakutia), and the Krasnoyarsk Territory, as well as attracting ALROSA and AFK (Joint-Stock Financial Company) Sistema as investors, and even positioning this project as a joint one with the Republic of Belarus. According to the Popigai diamond proponents, they promise brilliant prospects to Russia and the world, they say that the development of the deposit will provide the world industry with new rough diamonds, the annual demand for which may rise to 1 billion carats. The public interest in the issue has been mounting and it inevitably requires answers to the questions - why has a unique diamond deposit discovered half a century ago turned out to be in no demand so far and what is the real prospect of its development taking into account the current state of the world diamond market?

ICMM develops global industry standard on tailings management

26 april 2021

The publication of the International Council on Mining and Metals (ICMM)'s 2019 annual report last came shortly after the catastrophic collapse of a tailings dam at Vale's Córrego do Feijão mine in Brumadinho, Brazil. More than 250 people lost their lives as a result of the collapse.

De Beers - Friend or Foe?

19 april 2021

What is a natural diamond if it doesn’t have a social purpose? Let’s take the biggest brand and ask the killer question; “what, if anything, do De Beers and their ForeverMark brand really stand for?” …The answer may inspire you.  

On the smuggling of rough diamonds to the USSR

12 april 2021

The opinion that the USSR was actively involved in the smuggling of industrial diamonds after World War II is quite widespread in the literature of the subject. For example, “Industrial diamonds were spirited from Zaire and Sierra-Leone to Beirut, thence by diplomatic pouch to Moscow”. Or there were reports that old traders in Beirut - where many illicit dealers in Africa shipped rough diamonds to - recalled that there were often industrial diamonds in the diplomatic pouches sent to Moscow by the Soviet Embassy in Beirut. Such information is in almost all canonical works on the diamond market history, not to mention dozens of the op-ed pieces and journalistic articles. It should be noted that the original publications on the rough diamond smuggling by the Soviets dated back to 1951-1957, and later on, they were used by market researchers and journalists as a reference base without adding any significant details. For a long time, the thesis about the rough diamond smuggling by the Soviets looked quite appropriate. However, a number of documents we discovered in the central Russian archives on the purchase of a huge amount of industrial diamonds from England in 1951-1953 (the volume of these supplies exceeded the pre-war ones by an order of magnitude) radically changed the picture.

PGI: Sentiment remains positive about precious jewellery purchasing in 2021

05 april 2021

Platinum Guild International (PGI) the worldwide marketing organisation dedicated to creating, expanding and strengthening consumer and trade markets for platinum jewellery, presents its review of Q4 2020. Since PGI was founded in 1975, platinum jewellery has contributed to over 80 million ounces of demand. PGI is headquartered in Hong Kong and has offices in China, India, Japan and the US.

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