An alliance between a diamond producer and a diamond manufacturer in Russia is simply inevitable and necessary

What is a diamond manufacturer’s margin composed of? What is the profession of diamond processing engineer about? How much time does it take to become a diamond cutter? How does a polishing factory work? The Russian Cut, is it alive? Lightbox from De...

15 october 2018

High technologies make it possible to create a product that can be obtained in natural stones only for very big money

Andrey Zharkov, having left the position of President at diamond mining company Alrosa, has established and headed the Ultra C company, which will be engaged in the production of diamonds from the reactor. In this interview with industry news agency...

08 october 2018

The once unorganised domestic jewellery sector in India is now growing

A veteran businessman, former Chairman of Gem & Jewellery Council (GJC), Bullion Expert, a third-generation jeweller born with a silver spoon (or was it gold?) in his mouth, a perpetual optimist … yes, the list could go on. As the first...

01 october 2018

India is poised to become a major fine jewellery market in the near future - Pramod Agrawal, Chairman GJEPC

Pramod Kumar Agrawal, the current Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a successful entrepreneur in his own right. Despite belonging to a jewellery business family, with his father dealing in gemstones...

24 september 2018

Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Higher costs push De Beers H1 earnings down

26 july 2018

news_26072018_debeers.pngDe Beers said its underlying earnings before interest, taxes, depreciation and amortization (EBITDA) eased 9 percent to $712 million in the first half of 2018 compared to $786 million, a year earlier, due to higher costs.
The group’s cost of production jumped 6 percent to $67 per carat driven by the impact of unfavourable exchange rate movements and waste mining costs.
De Beers’ total revenue was $3.2 billion from last year’s 3.1 billion, while rough diamond sales were maintained at $2.9 billion.
The average realised rough diamond price increased by 4 percent to $162 per carat compared with last year’s $156 per carat due to a 1.6 percent increase in the average rough price index and an improvement in the sales mix.
Meanwhile, De Beers said the outlook for 2018 global consumer demand remained positive in most of the main diamond consuming countries, based on world economic prospects, positive consumer sentiment and continued investment in marketing.

Mathew Nyaungwa, Rough&Polished