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

De Beers sixth sightholder sale dips to $530 mln

31 july 2018

news_26072018_debeers.pngAnglo American said De Beers' sixth sightholder sale of the year raked in $530 million, a decrease of 9.2 percent compared with the previous cycle’s $581 million.
Although the fifth sales cycle earnings were provisional they also dropped 8.3 percent against $576 million that De Beers realised during the same period, a year earlier.
“In the sixth sales cycle of the year, demand for De Beers rough diamonds was in line with expectations during the seasonally quieter summer period for the industry’s midstream sector,” said De Beers chief executive Bruce Cleaver.
De Beers said last week that 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.
Its total revenue was $3.2 billion from last year’s 3.1 billion, while rough diamond sales were maintained at $2.9 billion.

Mathew Nyaungwa, Rough&Polished