US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

17 september 2021

Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

17 september 2021

Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

17 september 2021

Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

17 september 2021

Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

17 september 2021

The Impact of COVID-19 on the Diamond Industry

02 april 2020

expert_06042020.png
Image credit: Gerd Altmann (Pixabay)


(paulzimnisky.com) - In mid-January the diamond industry was first directly impacted by the coronavirus labeled COVID-19 when quarantine measures were taken in China to control the viral outbreak including the temporary closure of shopping centers. An estimated 75% of jewelry stores in Mainland China, and the surrounding regions encompassing Greater China, were shut for an estimated 40-50 days through the first week of March. In addition, the measures taken in China halted diamond trade and other industry-related B2B (business-to-business) activity in industry important regional trade hubs. Global industry conclave, the Hong Kong International Diamond, Gem & Pearl Show, and related shows, were postponed from March until May.