ALROSA reports its May 2021 diamond sales results

ALROSA reported preliminary rough and polished sales results for May 2021. ALROSA sales of rough and polished diamonds in May totaled $365 million, including proceeds from rough diamond sales of $346 million, and polished diamond sales of $19 million...

11 june 2021

Botswana Diamonds’ Thorny River discovery advances towards resource assessment

The AIM and BSE listed diamond explorer, Botswana Diamonds says it has advanced towards resource assessment at its Thorny River diamond project, in South Africa.

11 june 2021

Chow Tai Fook’s profit up by 107% in FY2021

Chow Tai Fook Jewellery Group’s annual results for the fiscal year 2021 showed the company’s profit grew by 107.7 per cent to $775.83 mn. This was a considerable improvement from a loss of 36.6 per cent in FY2020.

11 june 2021

World’s first regulator-approved diamond coin launched

New diamond coin is pitching itself as an alternative commodity for investors to purchase instead of gold bullion. International Gemological Institute (IGI), which provides grading for gems and jewellery grading, has joined hand with Diamond...

11 june 2021

Namibia blocks Namdia proposal to appoint a diamond evaluator

Namibia’s mines ministry has blocked the state-owned Namib Desert Diamonds (Namdia) chief executive Kennedy Hamutenya’s proposal to appoint his sales manager to replace C-Sixty Investment as the company’s diamond valuator.

10 june 2021

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.

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

20 july 2020

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI); Director on the Board of Indian Diamond Institute (IDI) and Vice President of The Southern Gujarat Chamber of Commerce & Industries. A graduate in Economics, Navadiya also holds a Master’s Degree in Social Work (MSW) from Gujarat Vidhyapith, Ahmedabad. A diamantaire in his own right, Navadiya is a partner in Tiku Gems.
Navadiya has also served as the President of Surat Diamond Association for 7 years, representing industry matters to Government bodies for the welfare of MSMEs. Here, in an interview with Rough & Polished, Dinesh Navadiya draws a positive picture of the state of the cutting and polishing centres, despite the current difficult phase.  Expressing total confidence, Navadiya sees the revival of the resilient Indian diamond industry in the future.

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

13 july 2020

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing company to a value-added, vertically integrated business. He has been instrumental in establishing the company’s jewellery business and global distribution network, currently one of the best in the industry. Under his leadership and guidance, the company has attained the status of being one of India’s leading diamantaires. Besides, he has been pro-active in supporting all activities to promote the Indian Diamond Industry, which brought him to the position of the Chairman of GJEPC from October 2012 to September 2015 wherein a host of initiatives were carried out under his leadership for the growth of exports and advancement of Indian gems and jewellery across the world. In this interview given to Rough&Polished Vipul P Shah covers a range of questions regarding the current situation in the global diamond industry.

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

06 july 2020

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

29 june 2020

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express their thoughts, opinions and views in a safe and constructive manner. In an interview with Rough&Polished, Young Diamantaires active members Rachel Sahar and Shai Schnitzer jointly answered questions related to the group's activities.