De Beers reduces prices for smaller stones – report

De Beers has lowered prices for smaller diamonds in a bid to attract customers back to the market after the COVID-19 pandemic reduced appetite for diamonds.

Yesterday

Moscow hosts new Jewelry Exhibition-Congress J-1

This week on Tuesday, the Crocus Expo International Exhibition Center in Moscow inaugurated a new J-1 Jewelry Exhibition-Congress. The organizers of the event, Konstantin Zakirov and Dina Nasyrova, made a welcoming speech at the ceremony.

Yesterday

Zim secretly awards Marange’s Portal B to Anjin – report

The Zimbabwean government has been accused of secretly awarding Anjin Investments the right to mine in Portal B at Marange diamond fields, which is under the concession of the state-owned Zimbabwe Consolidated Diamond Company (ZCDC), according...

Yesterday

Birmingham jeweler pleads guilty to wire fraud in diamond business

A Birmingham jeweler known for auctioning off, four years ago, a diamond engagement ring that once belonged to President Donald Trump former wife, pleaded guilty on 21 Sept 2020 to one count of wire fraud, as per media reports.

Yesterday

AGD DIAMONDS unearths 108-carat diamond

The Grib Mining and Processing Division of AGD DIAMONDS unearthed a gem-quality diamond weighing 108.38 carats on September 19, 2020.

23 september 2020

Consumers attracted to diamond jewelry more than ever

21 september 2020

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association which brings together more than 1,000 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 the situation in the jewelry industry in the context of the COVID-19 coronavirus pandemic.

WDC actively supports initiatives from mine to retail; and also strives for support for the artisanal and small-scale miners - Edward Asscher, President, World Diamond Council

14 september 2020

A member of one of the diamond industry and Amsterdam’s most well-known families, Edward Asscher was elected President of the World Diamond Council in June 2020 for a two-year term. Asscher is serving a second time as WDC President, having led the organization from 2014 to 2016. Currently, he is also the Vice President of the European Council of Diamond Manufacturers. He is the past President of the International Diamond Manufacturers Association (IDMA) and the International Diamond Council (IDC), a diamond standards-setting organization affiliated to IDMA and the World Federation of Diamond Bourses (WFDB). Asscher has also served in other functions outside of the diamond industry. A past president of the Liberal Party in Amsterdam, he was elected Senator of this party in the Dutch parliament, serving in the upper house from 2007 to 2011. Here, in an Interview with ROUGH & POLISHED, Edward Asscher speaks at length about WDC’s efforts towards finding solutions for the many issues in the global diamond industry …

Diamonds are one of the few things that have held human fascination in every nook and cranny of the world across time

11 september 2020

Dr Usha R. Balakrishnan, a preeminent historian of Indian jewellery based in Mumbai, is Chief Curator of the World Diamond Museum. Being the author and co-author of several volumes of Diamonds Across Time, a new book and an important venture launched by the World Diamond Museum, she was the curator of the accompanying exhibitions: Dance of the Peacock: Jewellery Traditions of India (1999), Jewels of the Nizams (2001), Icons in Gold: Jewellery of India from the Collection of the Musée Barbier-Mueller (2005), India: Jewels that Enchanted the World (2014), Alamkāra: The Beauty of Ornament (2015), Enduring Splendor: Jewellery of India’s Thar Desert (2017), and Treasures of the Deccan: Jewels of the Nizams (2018). In her interview given to Rough&Polished, Dr Usha R. Balakrishnan shares her views and experience from being immersed in this work in the course of several years.

Botswana Diamonds to bulk sample KX36 kimberlite, sees commercial potential

07 september 2020

Botswana Diamonds recently acquired Petra Diamonds’ exploration assets in Botswana for $300000. The assets that were owned by Petra through its wholly-owned Sekaka Diamonds Exploration, include the KX36 project, a 3.5 hectare kimberlite that was a new discovery in 2010. Botswana Diamonds managing director James Campbell told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that they will soon bulk sample the KX36 kimberlite as well consider innovative ways of mining it. The company see potential in the kimberlite and the two contiguous prospecting licences. Campbell also commented on their operations in light of the Covid-19 pandemic.

Indian diamond industry looks for recovery options

31 august 2020

Webinars being the order of the day due to COVID-19 crisis, the Gem & Jewellery Export Promotion Council (GJEPC) of India organized a virtual meeting under its UNCUT 2020 Webinar series on 17 August 2020, inviting all stakeholders to discuss possible demand-driven decisions, which could help the global diamond industry to end months of stalemate in the market.

Rough imports to India to recover in a few more months

24 august 2020

When Colin Shah took over as Chairman of The Gem and Jewellery Export Promotion Council (GJEPC) of India on 23 June 2020, he already had a successful track record behind him as Vice Chairman of GJEPC. Before this, he served as a member of CoA for the period 2012-2015. An astute businessman, Colin Shah is the Managing Director of Kama Schachter, one of the top ten manufacturers and exporters of diamond jewellery in Asia. A recipient of many industry accolades, Colin Shah plays a leadership role in many organizations like SEEPZ Gem and Jewelry Manufacturers Association, the Young President Organization and the Entrepreneurs Organization, besides the Gem & Jewelry Export Promotion Council. Here, in an Interview with Rough&Polished, Colin Shah speaks about the current challenges times; and the efforts GJEPC intends to initiate for the Indian G&J industry to recover going forward…

A love affair with gems

17 august 2020

Maxim Selikhov is a jeweller, creator of the Selikhov Diamonds brand launched by him in 2006 and famous for exclusive handmade jewellery, usually with unique high-quality gemstones. Selikhov is known as a passionate collector of rare gemstones, which he also considers an excellent investment tool. The jeweller and collector tells R&P about his extraordinary hobby, precious collection and the most unique jewellery pieces that are of particular value in it.

Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

10 august 2020

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward Johnson of CIBJO, was graced by industry analysts namely Paul Zimnisky, Pranay Narvekar, Edahn Golan and Russel Shor who participated as panelists. Although Covid-19 has had a devastating impact on the diamond industry, its long-term impact is, however, yet to be ascertained, said Johnson as he set the ball rolling. Below, we highlight comments made by the panelists.

How Russkiye Samotsvety is coping with the current downturn

03 august 2020

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June, the efficiency of the St. Petersburg’s entrepreneurs has decreased by 40% due to the restrictions during the coronavirus pandemic. These estimates may vary in different business sectors, but one cannot deny that the country’s business and economy have been hurt. Realizing that in the face of forced restrictions on the production activities, the company loses its flexibility, so Russkiye Samotsvety (Russian Gems) relied on new communication mechanisms as they lacked the usual management decisions such as effective pricing or operational managing the accounts receivable. Innovative forms of remote interaction have entered the company’s life - videoconferencing, use of modern communication channels, on-line consulting. The company considers an important aspect of its work to maintain constant interaction with partners in the regions, which made it possible to receive the latest updated information on lifting the quarantine restrictions and to discuss possible options in time for overcoming the downturn. Sergey Dokuchayev, Director General of Russkiye Samotsvety, told Rough&Polished about the challenges facing today his company that is a historical successor as for the St. Petersburg school of jewellery and the stone-cutting art it had in its palmy days.

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

27 july 2020

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions in a bid to curb the spreading of the novel coronavirus. Global rough sales were down some 80-90% in value in the second quarter compared to the previous year, according to Paul Zimnisky, an independent diamond industry analyst and consultant. He told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the biggest impact on the rough market is an acceleration of a multiyear production decline forecast. Zimnisky said his 2020 global production forecast is now almost 20% lower than it was prior to the pandemic, which would be the lowest output since the late-1990’s. His global natural rough diamond production forecast for the year was 139 million carats. Kimberley Process data shows that the global rough output stood at 130,3 million carats in 2019, although Zimnisky had projected an output of 141 million carats for the year.

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