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.


World Gold Council members commit to TCFD reporting

The World Gold Council (WGC) has announced that its members, 33 of the world’s most forward-thinking gold miners, have committed to reporting their positions and progress on climate-related risks in line with their commendations of Taskforce...


Petra gross diamond reserves down 14% to 33.33Mcts

Petra Diamonds’ gross diamond reserves decreased 14% to 33.33 million carats as of 30 June 2021 compared with 38.86 million carats, a year earlier.


Vladimir Dyukarev, former COO of ALROSA passes away

Vladimir Dyukarev, a mining engineer, who committed most of his life to the country's diamond industry making his way up from a foreman at the Udachny Mining Division to the COO of ALROSA, passed away today at the age of 78.


The third J-1 Jewellery Congress to be held in Moscow on September 26-28

The third J-1 Jewellery Congress will be held in Moscow’s Gostiny Dvor Conference Hall on September 26-28. The Congress will become a key educational and business platform for the jewellery industry and will set new vectors for its further development...


Sales continue to climb, but the cost of inventory is rising as well

30 july 2021

( - What a difference a year makes. Optimism was abundant in the market this past month, carrying through to predictions of a strong holiday season. Even with an eye on shrinking margins, positivity reigned. “The one thing we have to look out for is price increases — if and when they come,” said Yosef Poplack, vice president of sales at New York-based wholesaler Gem Wave. Gem Wave’s niche in melee, layouts and matched pairs of fancies has temporarily shielded the company from the tight margins that many in the industry are facing, Poplack said. While he has not encountered any problems securing inventory, he believes the reduced workforce at Indian factories due to Covid-19 is a concern for the industry. As to whether politics was affecting his business, he declared that it was “not even an issue” and that the important thing was “getting the domestic and global economy going.” “Retail stores are buying jewelry,” Poplack reported, adding that even last summer, he’d been able to “sneak into the office” and ship out goods to new clients, who continue to buy from him. Several months ago, Gem Wave expanded its offerings to include Gemological Institute of America (GIA)-graded stones of half a carat and up in rounds and all fancy shapes. All its inventory is “100% natural mined diamonds,” a selling point the company displays on its website and documents. Poplack’s association with several trade groups has helped further his company’s reputation and extend its client base, he said. And his consistent advertising has generated calls from potential clients. “If things keep going the way they are now, I can only see business increasing through the holiday season as demand gets higher. Things are coming back to life.”