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

Trust between industry and indigenous communities - from myth to reality

18 january 2021

On January 1, 2021, the diversified mining giant Rio Tinto officially changed its CEO. Jakob Stausholm took up this high position. The unplanned rotation was caused by the destruction of an ancient Aboriginal sacred cave in the Juukan Gorge. Most of the assets of large industrial companies are located close to indigenous communities. Thus, the active industrial development of natural resources in different parts of our planet cannot but have an impact on the indigenous minorities living in these areas.
At present, giant companies in the global industry are increasingly focused on the trust between the local communities and business, on the ‘green economy’, sustainable regional development, and in particular, on strengthening the local communities’ role in the business development. In this regard, the companies are increasingly aimed at attracting the local people to their business, strengthening their relations with the native population. They set themselves the task of preserving the local ethnic groups and national heritage.

Indian diamond industry in 2020

11 january 2021

It’s been a tough year for all and sundry. And would be an understatement to say the year 2020 was not exactly the best of time for the Indian diamond industry as well. But, it is a known fact that the diamond industry has weathered many a storm during the past many decades. Known for its resilience, the Industry has faced every crisis over the years with grit and courage, returning stronger each time. To put it simply, the Indian diamond industry is a survivor! One also cannot say that COVID-19 pandemic’s impact on the industry hit it so hard and brought it to its present state. It partly did, but it’s was a ‘double whammy’. The Indian industry was already going through a slow phase with multiple issues affecting the diamond business. And the spread of Coronavirus globally only added to the existing problems.

How diamond junior companies in Africa responded to the COVID-19 pandemic

04 january 2021

The diamond industry commenced the 2020 year on a very positive note having faced a challenging 2019. There was an improved sentiment in the global rough diamond market with a pick-up in mid-stream demand and rough prices. However, the positive sentiment was short-lived as the COVID-19 pandemic caused widespread uncertainty and disruption across the world. To curb the spreading of the virus, governments across the globe introduced lockdowns and closed their borders. This resulted in several diamond operations being mothballed or had their production capacity reduced late in March or early April 2020. In this article, I explore how junior diamond miners with operations in Africa, are doing or have done to preserve their businesses amid the COVID-19 pandemic and how successful (or lack thereof) are they?

Pandemic Could be Catharsis for Diamond Industry

28 december 2020

While the pandemic brought about an unprecedented shock to the whole diamond value chain in 2020, in a way it may also have acted as a catharsis of sorts for an industry that has been struggling to regain footing in recent years, in part due to a misalignment of supply and demand.

What polished diamonds and Zoom have in common?

21 december 2020

The diamond industry, which was hit hard at the first stage including due to transport restrictions, suddenly, looks like a beneficiary of the COVID-19 pandemic towards the end of the year. The lifting of strict quarantines triggered a ‘broken-down’ diamond trading mechanism, as the sightholders were able to fly to Antwerp or Moscow to view and buy their goods. At the same time, global travelling is at a very low level due to a sharp increase in the COVID-19 infections, and restaurants are closing or restricting attendance. In the run-up to the holidays, a significant portion of the funds that should have been spent on travelling or dining out may be spent to purchase diamond jewellery.

A new trump in favor of undervalued platinum

14 december 2020

In Q3 this year, platinum, along with other precious and non-ferrous metals, recovered rapidly from the collapse caused by the COVID-19 pandemic. The demand for the metal outstripped the supply volumes suffered from a series of failures at the Anglo American Platinum facilities. The growth was driven by a general recovery in the economy due to easing the coronavirus restrictions and giving monetary incentives. The structural deficit in the platinum market could result in new record prices, but the quotation dynamics is inferior not only to palladium, gold and silver, but also to copper and aluminum. One of the main reasons is the continuing decline in the production of diesel-powered vehicles with platinum as the main metal for catalytic converters. But even if this sector stagnates, platinum has another trump in its favor. The confidence in its long-term prospects is based on the shift to a hydrogen-based economy, which shows the wider use of the fuel cell vehicles and the electrolyzers using platinum to generate ‘green’ hydrogen. The pent-up jewellery demand could provide a short-term support for platinum.

Mine. Sell. Divide.

07 december 2020

The Russian diamond industry has a unique feature - it was founded and developed for quite a long time within the framework of the economic system, which is commonly called ‘planned’, ‘command-administrative’, ‘socialist’. In the face of today's ordeal, which the diamond market is undergoing due to the COVID-19 pandemic, it seems very interesting to assess the results of the similar ‘stress tests’ underwent by the USSR diamond industry. Maybe, the USSR experience can be useful when making anti-crisis decisions?

De Beers sees strong demand for diamond jewellery despite COVID-19 pandemic

30 november 2020

Diamond giant, De Beers has made efforts to understand the consumer perspective, particularly in the United States, following the COVID-19 pandemic. The group is conducting additional consumer, retailer and supply chain touch-bases to understand the pain points and the opportunities for partners large and small across the pipeline. It noted in its latest Diamond Insight Flash Report that although consumer optimism on personal finance and the financial position of the United States is slightly lower than at the beginning of the pandemic, expectations continue to be strong that in the longer term (next three years), the country and the economy will recover. De Beers said fine jewellery retailers are reporting that their diamond sales are strong this holiday season, with bridal being the primary driver for consumer demand.

India’s diamond manufacturing sector surges on…

23 november 2020

It’s almost business as usual here in India’s diamond cutting and polishing hub of Surat. The manufacturing sector is likely to buzz with activity after Diwali as nearly 200,000 migrant workers are expected to return to work. With orders reportedly pouring in from across the world, including the key markets of the United States of America and China, the manufacturers are hell-bent on completing the orders much before Christmas and New Year. This year, the Diwali holiday at Surat diamond units was cut down to fewer days, from a fortnight to a month traditionally, so that the trade can recover its business that has been lost due to the COVID-19-induced lockdown.

When the diamond market rising along with the ‘fear index’

16 november 2020

The diamond market continued its strengthening in October amid the robust jewellery sales in the US and China where a low tourism activity is offset by a strong domestic demand. The rebound in the retail and improved margins in the midstream are driving active rough diamond purchases. Today, practically everything suggests that we are in a full-fledged growth cycle of the diamond market. But it is unlikely that any of the market players can forget that the same undeniable growth cycle in January-February 2020 was relentlessly interrupted by the COVID-19 pandemic. They will not forget that the coronavirus is not the only risk factor - and may be not the main one - because the problems of the changing consumer preferences and the expansion of the lab grown diamonds still exist. The stock market has a very indicative volatility index, VIX. Also referred to as the ‘fear index’, it reflects the traders’ expectations on the volatility of the major US S&P index over the next 30 days. At the moments of uncertainty, which are many in 2020, the investors pay more attention to it than to other indicators. Usually, the dependence is clear - when the VIX declines the stock market rallies, and vice versa. The ‘fear Index’ hit a record high in mid-March this year when the market nose-dived, but then it decreased quickly as the market bounced off the bottom. In September-October, with the US elections approaching and the lack of new economic incentives to justify the stock market's skyrocketing since then, the VIX began to rally again. This time, the volatility index growth was accompanied by the S&P index growth, which is a very rare and alarming signal. In this situation, the investors began to lose faith in the validity of the current bid prices and started fixing the positions. If the diamond market had an analogue of the VIX, this index would probably also be quite high now and prompted the diamantaires to assess the prospects as carefully as possible after the successes achieved in August-October.