Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

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...

21 january 2019

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

Don’t Give Up on the Diamond Industry Just Yet

11 february 2019

If diamond miner equities are a proxy, the sentiment surrounding the diamond industry is currently at historic low levels. Just in the last two years, a basket of diamond producer stocks was down 28.9% in 2018, following a decline of 17.3% in 2017 (see Figure 1 below). This is in part due to idiosyncratic operational challenges that most all of the miners are dealing with in one way or another, however, investor sentiment is also undeniably low by valuation standards projected by future diamond price expectations. This has led to concerns spanning the industry’s future growth prospects and overall longer-term economic viability.

Diamonds and secret services

04 february 2019

The image of an elegant spy as an integral feature of a diamond market has been hardwired in the brains of diamond jewellery mass-market customers after the “Diamonds are forever” novel by Ian Fleming was published in 1956. Since that time, a huge number of films and books have been created about the involvement of the intelligence services in the rough and polished diamond operations and they were rich in unbelievable story lines, as a rule, rather far from the reality. Even though the reality is more down to earth, still there are interesting details allowing make several important points on the historiography of the diamond business.

Will Zimbabwe enable ALROSA help local diamond industry sparkle?

28 january 2019

I argued in July 2013 that Zimbabwe should work with Russia’s ALROSA to find more diamond deposits not only in Marange, but across the country. This was after reports that the Russians were planning to set up ventures in Botswana and Zimbabwe. ALROSA moved with speed and established a joint venture company with Botswana Diamonds called Sunland Minerals, which operated an exploration programme on PL117 in Orapa. The JV, which sadly collapsed last year following the exit of ALROSA, carried out detailed ground geophysics programme in the area of anomaly AN117-1 to target drill sites. The Sunland JV had no instant success, but made progress toward the target of a commercial discovery.

Divination for 2019

21 january 2019

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.

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