Botswana Diamonds deal with Diamexstrat, Burgundy more extensive than that with Alrosa – Campbell

Botswana Diamonds recently entered into a cooperation agreement with Diamexstrat Botswana and its partner, Burgundy to fund exploration of its prospecting licence assets in the southern African country. Company managing director James Campbell told Rough&Polished's...

01 march 2021

‘By democratizing luxury, lab-grown diamonds are heading towards opening the widest consumer base globally the diamond industry has ever experienced’, asserts Amish Shah, President, ALTR Created Diamonds

A third-generation diamantaire, Amish Shah, President of ALTR Created Diamonds and pioneer of the lab-grown diamond market has never been afraid to challenge the status quo. After gaining experience, through his family business in the diamond industry...

22 february 2021

Debbie Azar: “I believe that natural and laboratory-grown diamonds are two separate products that can complement each other through their unique features and benefits”

GSI is one of the largest gemological organizations in the world with 13 laboratories globally. GSI’s four pillars – integrity, innovation, professional service, and research & education – serve as the backbone of its business and provide a layer of...

15 february 2021

Consumer spending on diamonds exceeds expectations as rough demand outstrips supply – Zimnisky

Consumer spending on diamonds exceeded expectations in the fourth quarter of 2020 and has continued through early 2021, according to a top industry expert. Diamond industry analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa that a multi-year...

08 february 2021

Every crisis creates new opportunities

Pravin Shah has been in the business of diamonds for four decades; his technical expertise and thorough knowledge of the whole diamond manufacturing process sets him apart.
As a director, Pravin Shah is in charge of all the operations at two manufacturing...

01 february 2021

Adding fuel to the fire - COVID and the benefit performance of Angola

25 may 2020

As it became known, last week Angola sold at least five ‘modules’ (parcels) of goods supplied by its main diamond producer, Sociedade Mineira de Catoca. Five modules contain the entire monthly production of this company. According to market information, the rough diamonds could have been sold at $ 72-74 per carat. Catoca already had some diamond sales this year, but it is the sale occurred last week that can be safely called the first Covid-period trading session in the current “frozen” market. What are the takeaways? They are, in my opinion, very controversial.

The COVID-19 Effect: Indian diamond industry shaken but not broken

18 may 2020

The Indian Gem & Jewellery industry has weathered many a storm in the past, but nothing close to the current COVID19 crisis. This is unprecedented, and to gauge the volatility in the industry is beyond imagination leave alone comprehend the scenario. COVID-19, which took a pandemic shape this March, has completely stalled the Indian gem and jewellery trade. GJEPC vice-chairman Colin Shah opines: “This industry has come out of every crisis more resilient and this time it would take longer to find the new normal, which could be about 20% below the pre-corona level in value terms.”

Diamond in a virus crown

11 may 2020

One of the limelight topics discussed these days is the speed of market recovery after the COVID-19 pandemic will fade away. Will there be a quick return to the previous level (a V-type recovery), will the process be slow (U-type), or will we have a long recession (L-type). From our part, we will also try and contribute to this fascinating discussion.

World diamond production in 2015-2019

05 may 2020

The Kimberley Process usually publishes actual diamond production figures at the end of July of the following year, but diamond production in 2019 can be determined with a certain precision by calculation.

As pandemic started, demand for oil slumped. Shall we weather out the hard times?

27 april 2020

An “ideal storm” swept over the whole world, but Russia’s jewelers were hit harder than others as the country’s ruble lost more than other currencies. And this came on the backdrop of already falling incomes of the population. It is clear that the state will not be able to help everyone losing their jobs due to the closure of businesses for the period of pandemic, and it is all the more clear that people who have lost their jobs will definitely take their minds off jewelry for a long time...

Life in the diamond market after coronavirus

20 april 2020

The global hysteria over COVID-19 is nearing its peak. And the contours of a future reality for the diamond market are turning more and more visible. Frankly speaking, the prospects look hardly bright.

Diamond industry: virus test

13 april 2020

When diamond industry stakeholders described what was happening in the market last year as a “perfect storm,” they certainly couldn’t think of what was going to happen in 2020. At that time, it was a cyclical decline in demand due to excess stocks, problems with lending, geopolitical tensions, changes in consumer preferences and increased presence of lab grown diamonds. Now, the global diamond supply chain is essentially paralyzed, the “diamond pipeline” segmented and returned to the state of 2008-09.

World diamond trade in 2015-2019 and prospects for 2020

06 april 2020

The Kimberley Process is an international organization that regulates the global circulation of rough diamonds. The main goal of the process is the fight against the so-called ‘bloody’ diamonds. The ‘bloody’ diamonds were mined illegally and the money from their sale were used to finance armed terrorist groups in the world, as well as the corrupt regimes in the African countries. The organization was named after the South African city of Kimberley where a meeting was held in 2000 at the initiative of South Africa, Botswana and Namibia to find a solution to the ‘bloody’ diamond problem. At present, over 80 countries are the members of the Kimberley Process. Russia joined the organization in 2000, a few months after its establishing. In 2005, Russia chaired the Kimberley Process. In 2019, the chairmanship was held by India. In 2020, Russia chaired the Kimberley Process. The key idea of the Russia's chairmanship in the KP will be the fight against the inflow of synthetic stones in the global diamond market, as well as the providing of equal conditions for all the participants in this market.

So, is there any way to protect polished diamonds?

30 march 2020

In April 2019, ALROSA lobbied for the development of a RF government draft regulation by the Russian Ministry of Finance, according to which the jewellery studded with man-made materials featuring the characteristics (properties) of precious stones should be displayed in separate showcases in a store or other point of sale. Moreover, the showcase where the above mentioned goods are displayed should be marked as ‘jewellery containing inserts made from man-made materials’. Jewellers opposed such an initiative and put forward a number of arguments. The discussions of the ALROSA’s initiative of last year on the separate selling of natural diamond jewellery and the jewellery with synthetic stones resulted in the withdrawal of the RF government draft regulation as the authorities were convinced by the jewellers’ arguments. However, at present, as part of the activities on the so-called ‘regulatory guillotine’, ALROSA has again returned to the idea of introducing the requirements for the separate selling of jewellery with natural precious stones and that with synthetic ones into the Russian regulatory framework, but now - directly into the main industry law, the Federal Law ‘On Precious Metals and Precious Stones’.

Canada as a global diamond center

23 march 2020

Diamond mining in Canada has provided tremendous opportunities for the areas with limited possibilities, and the tax revenues continue to support the government at various levels. According to the Kimberley Process, in 2018, Canada exported diamonds worth about $2.16 bn; taking into account 10 percent royalties, diamond mining annually brings about $216 mn to the country.