Armenia puts up for sale more than half of valuables from state reserve

On September 24, the Government of the Republic of Armenia approved the sale of the most illiquid valuables stored in the vaults of the State Treasury of Precious Metals and Stones supervised by the Ministry of Finance of Armenia. The auctions will take...

Today

Caledonia Mining acquires new gold mining project in Zimbabwe

Caledonia Mining has entered into an agreement to acquire the mining claims over the Maligreen project, a property situated in the Gweru mining district in Zimbabwe from Pan African Mining for $4 million.

Today

SA diamond producers welcome ruling on Mining Charter

The South African Diamond Producers Organisation (SADPO) has supported a High Court ruling that the country’s Mining Charter is an instrument of policy, not binding legislation.

Yesterday

Indian diamond exporter under Income Tax radar

The Income Tax department carried out search operations on premises connected to a leading diamond manufacturer and exporter from Gujarat and seized a large volume of unaccounted data. The raids, which began on September 22 based on intelligence input...

Yesterday

New RJC standard for lab-grown materials

Responsible Jewellery Council, the world’s leading standard-setting organisation for the global jewellery and watch industry with 1,500 member companies in 71 countries, announced that it will develop a standard for laboratory-grown materials to establish...

Yesterday

A Time to Heal

11 june 2020
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Image credit: Mohamed Hassan (Pixabay)

(diamonds.net) - In these unprecedented times, it would be foolish to make predictions about diamond-jewelry sales growth. We simply won’t have any indication about the true state of consumer demand until at least three months after retail has reopened for business. E-commerce has been the one bright spot, emerging as the most effective avenue for making sales in the last two to three months. That online trend and others are likely to linger. Fundamental changes to the way society functions have taken place during the social and economic lockdown. People have been forced to be more remote, accelerating the digitization of society. Yet they also seem to have gained a renewed perspective on what is important in their lives. These developments are contributing to a new normal in the way individuals interact and businesses operate. The changes impact the entire diamond and jewelry supply chain, beginning with retail and filtering through the polished wholesale, diamond manufacturing and mining sectors. The industry needs to understand these trends so it can effectively navigate the recession. It must emerge looking significantly different than it did at the beginning of the crisis, or else face losing market share in the luxury space.