Âme’s Manhattan boutique is continental winner of Prix Versailles 2021 in the Special Prize Interior in the Shops & Stores category for North America

The Secretariat of the Prix Versailles 2021 announced earlier this month that the Manhattan boutique of Âme was awarded the Special Prize Interior in the Shops & Stores category for North America. Âme is among the 70 continental winners of the Prix Versailles...

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B2Gold eyes gold assets in Zimbabwe

B2Gold, which owns mines in Africa and Asia, has shown interest in acquiring gold assets in Zimbabwe, according to media reports. Bloomberg quoted the chief executive of the Canadian company Clive Johnson as saying that it held talks with Harare “to...

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Rough diamond prices up 10% on supply concerns

The surge in diamond prices coupled with a possible supply-side constraint has sparked concerns among the diamond exporters of Surat and Mumbai, as they have robust orders in hand from the US, China and the Far East, according to a report in Economic...

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Expert sees low grade, but profitable kimberlites in Angola

A diamond consultant has said that any company willing to mine diamonds in Angola should be prepared to get low grades, but profitable kimberlites. “There is nothing to worry about as the low grades are mainly Type 2 diamonds,” SRK Consulting Canada’s...

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Christie's Jewels Online: The London Edit results

Christie's Jewels Online: The London Edit (12 to 26 November) realised a total of £4,230,250/$5,655,844/€4,936,702.  The top lots of the sale were a Fancy Vivid Blue Diamond of 1.02 carat, which achieved £400,000/$534,800/€466,800...

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The world’s largest manufacturing center faces some unfamiliar challenges amid apparent supply and labor shortages.

27 october 2021
(diamonds.net) - “We’ve seen it all before,” was the collective sigh that rang through Mumbai’s massive Bharat Diamond Bourse (BDB) when the pandemic initially broke out. “We got through other crises, and we’ll get through this one.” The local diamond trade has a reputation for its distinct brand of optimism and cautious confidence, having thrived through the 2008 downturn and survived the many challenges in the decade since. Some of those challenges have been uniquely Indian. There was the round-tripping debacle of 2012, which fueled a bubble in bank credit and diminished lenders’ trust in the trade. And there was the government’s demonetization program in 2016 — often referred to as Prime Minister Narendra Modi’s attack on cash. While demonetization was deemed necessary to counter the rampant money laundering in the country, it sucked liquidity from the local diamond trade, putting businesses — predominantly small ones — under additional pressure in an already difficult market. When it comes to global crises, India’s diamond community has been able to work in a more unified way. Yet in 2020, when the global market shut down as Covid-19 began to spread in late March, India’s dealers, manufacturers and jewelers — like those across the globe — were left dumbfounded. It soon became clear this was unlike anything they had previously experienced. Uncertainty and fear that the economic impact of the pandemic would surpass all other crises set in. This time, Indian manufacturers didn’t need to take such deliberate collective actions, though they claim to have done so anyway. The market made the decision for them: Mining companies stopped selling rough, and trading froze. Besides, no one could travel to buy goods.