Lulo diamond resource carats up 90% to 80,400 at modelled average of $1,420/ct –Lucapa

Lucapa Diamond said the in-situ resource carats at its 40 percent-owned Lulo alluvial mine, in Angola has leaped 90% to 80,400 at a modelled average price per carat of $1,420, a 17% increase on the previous modelled estimate of $1,215 per carat...


The list of nominees to the Supervisory Board of ALROSA approved

On March 21, 2019, ALROSA Supervisory Board considered by absent voting the nominees from the shareholders to the Supervisory Board and the Revision Committee.


Mountain Province Diamonds announced full year 2018 results

Mountain Province Diamonds Inc. announced its financial and operating results for the full year ended December 31, 2018.


Petra Diamonds chairperson survives vote of no confidence

Petra Diamonds said its board and nomination committee received a 22.12% vote against the re-election of Adonis Pouroulis as the company’s chairperson.


Dubai Precious Metals Conference to focus on driving industry growth

The Eight Edition of the Dubai Precious Metals Conference (DPMC) will be held on April 11, 2019 at the Atlantis-The Palm in Dubai.The annual conference is expected to have over 300 industry experts attending it and the theme of the conference...


“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

18 march 2019

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF that is focused on providing working capital and trade finance services specific to the diamond sector. Prior to joining NBF, Davy Blommaert spent six years at Antwerp Diamond Bank, where he supported the development of its Antwerp and Hong Kong businesses before moving on to oversee its Dubai office.  His two-year stint at International Diamond Laboratories DMCC (IDL) as its finance manager and legal counsel saw him play a key role in helping IDL set up its operations in locations from Mumbai and Jeddah to Istanbul and Antwerp. In an Interview with Rough & Polished, Davy Blommaert talks about NBF’s methodology, systems and policies, which protects the bank from losses.

Russia’s export legislation is like a log on the road making it difficult to drive through

11 march 2019

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional jewelry community and the transformations in the jewelry industry.

Botswana mum on new demands as negotiations with De Beers draw closer

04 march 2019

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South Africa that he cannot divulge what the southern African nation would put on the table during the negotiations. However, reports suggested that Gaborone wanted to boost its share of independently marketed and sold rough to 30% from the current 15%. Botswana, as speculated, also wanted to be heavily involved in setting rough prices for its goods, which are currently decided almost singlehandedly by De Beers. The current sales agreement would come to an end in March 2021. The agreement, among other things, saw De Beers agreeing to shift its diamond aggregation and sightholder sales to Gaborone from London.

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

25 february 2019

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute of Australia, Jack Chen also completed Gemstone appreciation and marketing certificate course from the Asian Gemmological Institute and Laboratory Limited. In 2018, he also completed a course in Introduction to Rough Diamond Sorting and Planning in HRD Antwerp Education. During his stay in Sydney, Jack Chen also worked in a local retail chain store as service manager for 3 years to gain experience in customer services and store management. Presently, as General Manager at DLX-Jewellery, Jack Chen is totally engrossed in expanding and diversifying his family-owned business. In an Interview with Rough & Polished, Jack Chen draws out all the company’s plans that are in place to expand and diversify his family-owned business.

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

18 february 2019

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain, Italy and Germany. The mission of Mujeres Brillantes is to help women in the jewelry and watchmaking sectors consolidate their business in order to exchange professional skills and experience. In the immediate past, Ali Pastorini was also Senior Vice President of the World Jewelry Hub in Panama. In this interview with Rough&Polished she tells about major trends and problems in the jewelry business.  

Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

11 february 2019

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation jeweller and an astute businessman who learnt the ropes of the diamond business at age 17, Colin Shah went on to establish his own company Kama Jewellery in the year 1996. Today, Colin Shah is the Managing Director of Kama Schachter Jewelry Pvt. Ltd.  His recent foray into jewellery retail is another step to pursue his passion for diamond jewellery. His offline and online retail presence go by the parent company’s name – Kama Jewellery. In an Interview with Rough & Polished, Colin Shah- GJEPC’s Vice Chair, talks about the initiatives by the GJEPC; and on the current challenges before the Indian G&J industry.

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

04 february 2019

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities like the Customs, Government of Gujarat, etc. Besides being the Executive Core Committee Member & Managing Committee Chief Patron Member at Southern Gujarat Chamber of Commerce & Industry, Surat, he has also served as the President of Surat Diamond Association for 7 years, representing industry matters to Government bodies for the welfare of MSMEs. A passionate social worker, Navadiya initiated under the Surat Diamond Association, the building and running of a Hospital at Varachha Road, Surat for the artisans and other labourers who cannot afford good medical facility. Here, in an Interview with Rough & Polished, Dinesh Navadiya draws a clear picture of the state of the cutting and polishing centres but expresses total faith in the revival of the resilient Indian industry, which has survived many a challenge in the past.

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

28 january 2019

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the year were awarded the diplomas. Irina Slesareva, the Art Director of the Russian Diamond Line, one of the contest initiators and the Editor-in-Chief of the Yuvelirnoye Obozreniye (Jewellery Review) magazine, told the Rough&Polished correspondent about how the contest was set up and what the purpose was, how it has been changing and developing over the years.

New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

21 january 2019

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing on ‘financial solutions’ for the art and jewellery sector. However, Erik Jens firmly believes that financing should be asset-based. He also believes that solutions lie in technology, not like the current practice on receivables on paper only. This idea emerged into the initiative around starting up a Fintech company called LuxuryFintech. Jens, as the former Global Head - Diamond & Jewellery Clients - AMRO BANK N V, comes armed with professional experience in banking, financing and investments. He has specialized in private wealth management solutions, investments in hedge funds, private equity and real estate industry. He had also served as director/advisor to various hedge funds and private equity funds at Fortis, which later became ABN AMRO. Erik Jens has also held various senior executive positions at Fortis MeesPierson in banking and investment services in the Netherlands, Belgium, Switzerland, Netherlands Antilles, Ireland, United Kingdom, USA and Asia. Here, in an interview with Rough & Polished, Jens speaks on the current challenges for the global G&J industry and also suggests solutions for the finance/liquidity issues faced by the troubled industry.

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

14 january 2019

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet the needs of independent women. Âme will sell their goods through boutiques opened in New York and Los Angeles, as well as online. In his interview given to Rough&Polished, Alex Popov tells about this new venture and shares his views on the cleavage between natural and lab-grown diamonds.

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