Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 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