Lab-grown diamonds will eventually dominate the fashion markets across the world, predicts Rohan Siroya, CEO of Evermore

Rohan Siroya, the scion of the Siroya jewellery empire, has a clear ambition to catapult the company into the next phase of development and continued success. Having honed his skills as a real estate developer in Mumbai, Rohan has demonstrated his versatility...

06 february 2023

De Beers to start production at SA's Venetia underground project this year, establishes JV with Endiama in Angola

De Beers is expected to begin production at its Venetia underground project in South Africa this year, almost two years behind the initial commence date. Construction of the underground project started in 2013 and first production was targeted or 2021...

30 january 2023

“Although we’re the 7th world gold producers, we have to buy the metal in USA”

With more than 45 years in the industry, Clemente Guevara runs New Fashion Peru, one of the three largest jewelry companies in the country. All together control the 90% of a 120-million-dollar jewelry export market. Mr. Guevara is also a member of...

23 january 2023

Consumers are testing a vastly less-expensive alternative to natural diamonds - Vin Lee, CEO of Grand Metropolitan

Vin Lee, the self-made billionaire CEO of Grand Metropolitan of USA, is popular as the 'King of Luxury'. The Beverly Hills family office 'Grand Metropolitan' is a $7 billion AUM privately held luxury goods holding company with a 60-brand...

16 january 2023

"Surat Diamond Bourse will become the voice of industry in the coming days," says Vallabhbhai Patel, Chairman of the Surat Diamond Bourse

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, looks towards the Surat Diamond Bourse (SDB) to play an important role in turning Surat into the world’s largest manufacturing and trading diamond hub in a short period. Vallabhbhai dreamed...

09 january 2023

U.S. Sanctions Target Alrosa And Its CEO

28 february 2022

On Thursday, the U.S. Treasury announced a long list of sanctions against Russia, with some taking aim at state-owned diamond miner Alrosa and its CEO, Sergey S. Ivanov. The new rules do not proscribe U.S. companies from doing business with Alrosa. Instead, President Biden’s executive order forbids them from engaging in transactions with the publicly traded miner involving “new debt of longer than 14 days maturity or new equity.” While these moves are an attempt to limit Alrosa’s ability to raise U.S. capital, they could affect other transactions, says a member alert from the Jewelers Vigilance Committee (JVC).

Diamond Market: Rush demand vs. inflationary pressure

21 february 2022

The last year has instilled an idea into in the minds of most diamond market analysts that the only obstacle for its growth may be the limited global diamond production. This thesis is strongly supported by diamond miners. Increasingly, their presentations focus on the resource depletion and capital-intensive projects related to developing the few new deposits or extending the life of the existing ones. At the same time, the final part of the diamond pipeline, jewellery retail, is expected to enjoy a steady consumer demand. There are certainly grounds for optimism as the key market, the United States, has been showing its double-digit growth in jewellery sales since July 2020. But as inflation rises, there are also growing risks that the deeper concerns at the prices can interrupt the jewellery retail’s steady growth dynamics. The big question is whether the diamond market players will be able to shift the burden of their rising costs onto their buyers, while maintaining their desire to purchase jewellery.

Platinum: from a “fake” metal to one of the most expensive metals

14 february 2022

Throughout the history of mankind, the demand for certain types of mineral raw materials has been constantly changing. This has always been caused by the progress in science and technology, changes in the structure of the economy, and the discovery of new deposits. Today, it is obvious that the focus in mining and manufacture is shifting from the “traditional” types of raw materials (for example, iron, coal, chromium) to those resources that are in demand from new and advanced technologies. The talk is, in particular, about the platinum group metals (PGMs, platinoids).

Diamond “OPEC”: to be or not to be

07 february 2022

The discovery of a transparent small pebble in 1866 on the bank of the Orange River near today’s city of Kimberley made South Africa one of the richest countries on the African continent. A 15-year-old son of the De Beers livestock farmer picked up the pebble from the ground. The curious find was given to a local collector of stones, but he could not determine what it was. Only after some time, it was found out it was a rough diamond. For this reason, this event is considered the first commercial diamond production. Although most likely, people found diamonds before, just no one knew what kind of pebbles they picked up and what their value was.

About the book “World Diamond Market. From Inception to the Present State” by A. V. Nikolashchenko. Part II

31 january 2022

In 2019, the Moscow publishing house URSS put out a monograph by A. V. Nikolashchenko “World Diamond Market. From Inception to the Present State”. This very voluminous work (over 700 pages) was created by the author having over 35 years of experience in the diamond market as an employee of the Market Research Institute of the Ministry of Foreign Trade of the USSR, Almazyuvelirexport, and ALROSA. The abstract positions the work as the one slightly pulling back the “curtain over the world of the diamond trade closed from outsiders” and intended for specialists “in the field of diamond mining and trade, diamond manufacture, as well as for economists, historians, political scientists”. Such extensive monographs are published rather rarely. It is all the more surprising that in the two years that have passed since its publication, the book by Nikolashchenko has not received any serious reviews and responses in specialized publications. Perhaps, this is due to the fact that the book does not have an electronic version, and the circulation of its paper version turned out to be insufficient to cover an adequate audience. Meanwhile, the work by Nikolashchenko deserves the closest attention, at least, because of its rather unexpected claim to be absolutely exclusive.

About the book “World Diamond Market. From Inception to the Present State” by A. V. Nikolashchenko. Part I

24 january 2022

In 2019, the Moscow publishing house URSS put out a monograph by A. V. Nikolashchenko “World Diamond Market. From Inception to the Present State”. This very voluminous work (over 700 pages) was created by the author having over 35 years of experience in the diamond market as an employee of the Market Research Institute of the Ministry of Foreign Trade of the USSR, Almazyuvelirexport, and ALROSA. The abstract positions the work as the one slightly pulling back the “curtain over the world of the diamond trade closed from outsiders” and intended for specialists “in the field of diamond mining and trade, diamond manufacture, as well as for economists, historians, political scientists”. Such extensive monographs are published rather rare. It is all the more surprising that in the two years that have passed since its publication, the book by Nikolashchenko has not received any serious reviews and responses in specialized publications. Perhaps, this is due to the fact that the book does not have an electronic version, and the circulation of its paper version turned out to be insufficient to cover an adequate audience. Meanwhile, the work by Nikolashchenko deserves the closest attention, at least, because of its rather unexpected claim to be absolutely exclusive.

Will the diamond market face obstacles on the way toward new records?

17 january 2022

It appears from all the available indicators that the diamond market is entering the holiday season with insufficient inventories at all value chains due to the reduction in supply. The jewellery sales remain strong, and early data on the Americans' spending on the Thanksgiving Day holiday allow to feel upbeat about the Christmas period. An obstacle in this seemingly inevitable ‘race’ for records may be the factor of the low profitability of the cutting and polishing sector, which aggravated against the background of the rough diamond shortage and slowed down the polished diamond price growth. The market already stumbled over this problem several years ago, however, the picture was completed by the decline in jewellery sales at that time. But now, the already two-fold gap in the dynamics of the rough and polished diamond growth may be aggravated against the background of the new strain of COVID-19 spreading in South Africa that generates disruptions in the diamond supply and poses the risks of a larger deficit.

Russian jewellers were fostered by impecunious buyers

10 january 2022

The news that the Russian Ministry of Finance set out to create a marketplace focused on the export of Russian-made jewellery to the global market was widely discussed among the Russian jewellery market players. What the Russian jewellery industry can expect from such a marketplace?

PGI: Performance of platinum jewellery in four major markets during Q3

03 january 2022

The ‘Platinum Jewellery Business Review’ released a research study of platinum jewellery’s performance in four major markets--- the USA, China, India & Japan--- during Q3 2021. According to the statement, China’s GDP slowed in Q3 with the lowest rate in 2021. Japan’s economy faced challenges primarily driven by a power crunch and supply chain state of emergency in Q3. Platinum sales grew but at a slower pace than other categories.

Retail investment in 2022: Gold vs diamonds

27 december 2021

Inflation in the United States has broken a multi-year record as the consumer price index rose by 6.8% year-on-year in November this year, hitting a 30-year high. In an attempt to counteract this threatening trend, the Fed has intensified its implementation of the quantitative easing reduction and promises to completely stop the liquidity injection in March 2022, and not in June, as previously planned. It is also expected that the interest rate on federal loan funds in 2022 will be raised to 0.9% from the current range of 0% - 0.25%.