Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

First Sprouts of Demand

06 april 2009

Despite the many pessimistic forecasts, the diamond market is displaying certain recovery – several market centers simultaneously inform about growing demand for rough diamonds. The most serious positive news is the arrangement between AWDC and ALROSA on a strategic agreement for the delivery of $500 million worth of rough diamonds to 15 Antwerp-based companies.

Apparently, these talks are one of the stages in implementing ALROSA’s new sales strategy which was reported last year on repeated occasions. An ALROSA source informed that the client companies mentioned in the new agreement comply with the most rigid criteria: they have an impeccable credit history, no financial problems, high professional level and long market-work record. It is important that these companies have not been noted as taking part in speculative dealings mostly due to which the diamond market is currently experiencing considerable difficulties.

It is assumed that these clients will be offered long-term contracts – presumably for three years. Since the Russian diamond market is currently regulated by the Ministry of Finance it may be also assumed that prices for rough diamonds within the above agreement will not be lower but more likely higher than those in the current price-list stipulating ALROSA’s sales to Gohran.

If the progress in this direction will prove successful it will be possible to speak about first steps to revive the diamond market giving it a new level of transparency and bringing its speculative component to a reasonable minimum. However, it is utterly important that the emerging positive structural transformations and accompanying growth in demand be adequately interpreted and supported by all the major diamond-mining companies. Under the current conditions the first sprouts of recovering demand for rough diamonds may be immediately and irreparably destructed by irresponsible dumping. This is why coming to an aligned position in pricing and regulating supply on the market between diamond miners remains of high priority.

Sergey Goryainov, Rough&Polished