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

Mining companies and local communities: the balance of give and take

09 november 2020

Most mining companies often clash with the local communities whenever they intend to establish a new mine that leads to their relocation. Some fights are due to potential environmental challenges such as the contamination of rivers or the suffering of humans and livestock due to the effects of mercury and cyanide. Some communities are also complaining of air and noise pollution due to mining operations in their areas.

India’s gem and jewellery industry getting back on track

02 november 2020

By July 2020, the COVID-19 pandemic had reached a rather alarming stage in India. And, not surprisingly Surat, the biggest diamond cutting centre of India was badly hit too. So, the city saw a massive exodus of diamond industry workers leaving the city in large numbers. This eventually left most of the diamond units big and small closed, with workers employed in these units leaving the Gujarat city every day, as they were left with no source of income. The Surat Diamond Workers Union President Jaysukh Gajera feared at that time that 70 per cent of the workers who were leaving the city may never come back.

Japan's diamond market: spring, summer, autumn, winter and … spring again?

26 october 2020

Several decades ago, Japan was one of the world's major diamond jewellery consumers, along with the United States. That said, there was virtually no diamond market in the country until the middle of the 20th century. The question arises as to how it gained momentum and powerful development and why it is now in the slow lane? Let's try to figure it out.

Angola liberalizes mining industry

19 october 2020

Angola is experiencing a new moment in its political history, with governance now led by the new President of the republic, João Manuel Gonçalves Lourenço, who replaced José Eduardo dos Santos, who led the country's destinies for 38 years. The new Head of State chose to fight corruption, impunity and nepotism as the banner of his government but at the same time has listed reforms in different sectors of the national life, such as the bet on the diversification of the national economy with a strong bet on agriculture. The basis of an entire economy that aims to be revitalized.

Can the diamond market take revenge?

12 october 2020

The diamond market suffering from an oversupply of rough diamonds and changes in the consumer priorities in retail turned out to be a fertile ground for the seeds of COVID-19 that is devastating to the global economy. The coronavirus almost completely froze the diamond trade and forced major players to make unprecedented concessions to their customers - that said, the sales figures have been 10 times less than usual for a long time. Nevertheless, August, traditionally strong for the diamond market, maintained its status despite the fact that the tourist activity being the main driver of demand during this period was clearly lower than last year. The signs of a new cycle in the market were the resumption of jewellery sales in China, an increase in the workload at the Indian cutting and polishing units, as well as an increased demand for rough diamonds. The signs of recovery are very slight now and the situation is entirely dependent on the possible repeated national lockdowns that can decrease the anticipated holiday sales when the industry could take revenge for five difficult months of this year.

Namibia’s diamond production and exports in 2006-2020: from one crisis to another

05 october 2020

Namibia is among the largest global diamond production countries and exporters. Namibia’s offshore rough diamonds are beyond competition as they are brought to the bottom of the Atlantic Ocean in the safest form, and their extraction using mining vessels is not very expensive and the value of one carat is several times higher than that of the diamonds mined from the kimberlite rocks in Africa.

Will diamonds shine brighter than other luxury items?

28 september 2020

According to Bain & Company (The Global Diamond Report 2019), the global jewellery market in 2019 was estimated at approximately $330 bn. Diamond jewellery sales are estimated at $80 bn, and its luxury segment accounts for about 10% (~$8 bn) of the sum. For comparison, the luxury watch market is at $39 bn over the same period, leather goods at $57 bn, and the apparel market at $64 bn (Luxury Goods Worldwide Market Study, Fall-Winter 2019). The fashion market accounts for about a quarter of the total luxury goods market. According to the experts from the McKinsey agency (A multifaceted future: The jewelry industry in 2020), the jewellery market should develop following the luxury apparel market.

Botswana and the global economic crisis

21 september 2020

At present, in terms of diamond mining, this country rightfully has a world lead in the diamond production and the value of rough diamonds. Botswana is also among the major rough diamond exporters in the world.

Junior companies in the diamond industry in Canada and Russia

14 september 2020

Junior companies in the mining industry are understood as small and medium-sized enterprises, the purpose of which is the prospecting and exploration of new mineral deposits. At the same time, upon the discovery of a deposit, a junior company can either sell a licence to a mining company or start developing it on its own. The juniors can develop into large mining companies or specialize exclusively in geological exploration.

Sodiam, a time bomb

07 september 2020

Until September 2017, the end of the ‘never-ending’ presidency of José Eduardo dos Santos, Angola’s diamond industry was quite an obvious system common for such forms of government control. All decisions were taken by the family of the head of the state in the person of its most pro-active member - Isabel dos Santos, the president’s eldest daughter. By coincidence, she was also Africa's first female U.S. dollar billionaire.