“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

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