CIBJO releases precious metals special report

With fewer than six weeks to go to the opening of the 2021 CIBJO Congress on November 1, 2021, the third of this year’s CIBJO commissions' Special Reports has been released.

Today

iTraceiT to help the diamond and jewelry industry become more transparent

iTraceiT, a new and independent technology and service provider, will soon launch a robust and user-friendly traceability solution for the diamond and jewelry industry.

Today

Chinese diamond miner apologises to Marange headman – report

Anjin Investment, a joint venture between China’s Anhui Foreign Economic Construction Company (AFECC) and Matt Bronze, an investment vehicle controlled by Zimbabwe’s military, has apologised to Headman Chiadzwa for resuming operations in Marange...

Today

Catoca denies polluting DRC rivers that killed 12 people

Sociedade Mineira de Catoca which produces 75% of Angola’s diamonds, has denied leaking heavy metals from its mine in the northern part of the country.

Yesterday

Ethereal Green Diamond produces the world’s largest LGD

Ethereal Green Diamond is the manufacturer and global supplier of lab-grown diamonds headquartered in India. Ethereal Green Diamond has produced the world’s largest certified lab-grown diamond, the 14.60-carat ‘Freedom of India’.

Yesterday

The 2019 Pipeline

16 november 2020

(idexonline.com) - The 2019-2020 period is evolving as a dramatic game changer for the entire world. This is even more so for the diamond industry where a gradual pipeline restructuring process finally matured into an inevitable and, in fact, a most desirable conclusion for the midstream sector - the manufacturers of the rough and the traders of the polished. Finally, this quite squeezed sector from a profitability aspect, began to act purely in their own economic, financial, and commercial self-interest less burdened by producer pressures to “relieve” them of their stocks. Led by the massive Indian diamond sector, the manufacturers put four months break on their rough diamond purchases. In 2019 the producers were faced with considerable resistance to purchase their rough allocation which was met, to quote the CEO of De Beers, “with unprecedented flexibility in the way it sold its diamonds to sightholders because of the nature of the market”. In February 2020, well before the pandemic struck the world in full force, the heads of both De Beers and Anglo American announced that they would change their allocation system (sights) and that no buyer will be “unaffected” by the changes in the sight system. The Indian industry didn’t wait to find out what scheme the producer would introduce.