GJEPC to organise the first Diamond Studded Jewellery Virtual Buyer-Seller Meet

The Gem & Jewellery Export Promotion Council of India (GJEPC) will organise the Diamond Studded Jewellery VBSM from 25 – 28 November 2020. Buyers are expected from the UK, the USA, Europe, Australia, New Zealand and Russia, according to the press...

Today

LVMH and Tiffany discuss reducing price of deal

LVMH and Tiffany Co. are in discussions to reduce the price of the French luxury giant’s contested deal to buy the U.S. jeweler. Tiffany is seeking around $132 a share as a compromise price. It would also likely want a guarantee that LVMH wouldn’t back...

Today

Belgium approved a new law, guaranteeing basic banking services for companies

The Federal Parliament of Belgium approved a new law, guaranteeing basic banking services for all Belgian companies. The law will come into effect 6 months after publication in the Belgian Official Gazette, AWDC reported.

Yesterday

India’s polished diamond export dips 20% in September; rough import up by 16%

India’s cut and polished diamond exports declined 19.60 per cent registering $ 1564 mn during Sept 2020 as against $ 1946 mn exported in Sept 2019, according to provisional data released by the Gem & Jewellery Export Promotion Council of India.

Yesterday

Recovering global diamond industry to propel Botswana economic growth in 2021

Botswana's economy will recover and grow by 7.7% in 2021 from the projected 8.9% contraction this year as the global diamond industry bounces back, according to news reports citing the finance minister.

Yesterday

Chris Del Gatto: “We provide capital to smart companies”

26 october 2020

Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found a diamond wholesaling firm in fancy colors, and subsequently in 2001, he co-founded a company - a buyer of diamonds. After an offer from De Beers, he subsequently sold an interest in that company to a private equity firm in 2010. It was then that Chris began to focus on the opportunity arising from the commercial banks rapidly retreating from the diamond industry. The DELGATTO Diamond Finance Fund (DDFF), founded in 2018 is the first institutional class lender to focus solely on the diamond and jewelry industry globally. DDFF runs a collateral-based strategy that finances companies up and down the supply chain. The company’s clients include diamond mines, De Beers and ALROSA contract buyers, polished diamond traders, estate jewelry, colored stone as well as high-end watch wholesalers. Here, in an interview with Rough&Polished, Chris elaborates on his company’s workings but also puts forth his opinion on the current situation in the global gem and jewellery industry; and how it will fare in the post-COVID times going forward.

Lunhianga Project: "The forecasts for this year point to the production of about 100 thousand carats of diamonds"

19 october 2020

Advanced information, by the coordinator of Endiama’s Lunhinga Project Management Committee, Adérito Gaspar, points to a drop in production due to the pandemic, but with good prospects in view of the potential of the kimberlites of Camatchia, in production, and of Camagico, both located in the province of Lunda-Norte, in the East of Angola.

Crisis is the way to development

12 october 2020

Maria Krasnova belongs to the second generation of the St. Petersburg jewellers. She is a daughter of Pavel Sokolov, the founder of ‘Samotsvety ot Sokolova’ (Gems by Sokolov), a jeweller and expert gemologist famous for his collection of unique precious stones. He is a co-owner and managing partner of the Mousson Atelier founded in 2008 in St. Petersburg and creating perfect quality jewellery pieces in a modern style.

Gaetano Cavalieri: Diamond producers no longer insisting that clients purchase what they are offered

05 october 2020

Dr. Gaetano Cavalieri has served for the past 19 years as president of CIBJO, the World Jewellery Confederation. Uniting national jewellery and gemstone associations from more than 40 countries, including Russia, and many of the industry’s major corporations and international associations, CIBJO is the industry’s oldest international organization, having been established in 1926. In 2006, the CIBJO was the only organization granted the official status of a consultant to the UN Economic and Social Council on the development of the global jewelry industry. Gaetano Cavalieri kindly agreed to answer questions from Rough&Polished related to the most pressing topic for the world community today – the COVID-19 coronavirus.

Worth of gold and diamonds

28 september 2020

Initiatives in Arts and Culture and De Beers recently co-hosted a webinar on the worth of gold and diamonds. The webinar, which was moderated by Mickey Alam Khan, the founder and editor of Luxury Daily, featured Jeffrey Christian, founder and managing director of CPM Group; Kyle Roderick, an author; Pat Dambe, De Beers vice president of corporate affairs and government relations and Catherine Sarr, a jewellery designer and founder of Almasika Fine Jewellery. Rough & Polished’s Mathew Nyaungwa attended the webinar and below are some excerpts.

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.

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