De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Today

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

Lucapa Diamond CEO perceives good start for rough diamond market in 2018

22 february 2018
The rough diamond market has this year started off “very well” as high demand has seen prices go up in January, according to Lucapa Diamond chief executive Stephen Wetherall.
De Beers’ rough diamond sales for the first sales cycle of 2018 was provisionally capped at $665-million, while Alrosa sold rough diamonds for $499-million in January.
“I think if you look at the sales of other producers they are also quite upbeat of what they have achieved, so I think as we normally expect in a diamond industry, we see January and February being stronger pricing environments and demand environments,” he told Rough & Polished earlier this month.
“So I think the year started off the same way, it always does very, very strongly.”
Wetherall also said, although it was hard to predict the future of a diamond market due to its volatility, he was anticipating the high-end diamond market to remain stable by the end of the year.
He, however, said that the low-end diamond market had been under pressure.
“It just seems to be with regards to the stocking environment [and] when there seems to be a low stock you get demand from the Indian diamantaires and that pulls the prices back up,” he said.
“But as you know we are operating in the high-end it’s been pretty robust, demand is very, very good so we haven’t seen that much pricing pressure.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished