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

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

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...

20 august 2018

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

Global rough diamonds sale to cutting centres reaches $16.6bn – De Beers

14 september 2018
news_26072018_debeers.pngRough diamond sales to cutting centres increased by 2 percent to $16.6 billion last year, according to De Beers’ 2018 diamond insight report.
The group said it remained the largest rough supplier in 2017, but with a reduced share of 34 per cent from 37 per cent in 2016.
Alrosa’s share also decreased in 2017 to 25 percent of total sales from 27 per cent in 2016, it said.
De Beers said, without providing data, that sales of rough diamonds to cutting centres in the first half of 2018 were higher than the same period in 2017.
“Alrosa destocked 7 million carats in the first half to report an 8 percent increase in rough diamond revenues,” it said.
“While De Beers Group’s sales were lower in volume terms, sales values to cutting centres were maintained by higher prices and an improved mix.”
Meanwhile, the group said global diamond production values were estimated at $17.5 billion in 2017, a 15 percent increase on 2016.
“In volume terms, production increased 14 percent to 164 million carats. De Beers Group accounted for the largest increase in production volumes (+6.1 million carats), followed by Rio Tinto (+3.7 million carats) and Alrosa (+2.3 million carats).”
Russia retained its position as the largest producer country in carat and value terms.
Total diamond production in 2018 was expected to fall slightly from 2017 levels, due largely to Alrosa’s suspension of operations at the Mir mine and Rio Tinto’s guided fall in production at its operations.

Mathew Nyaungwa, Rough&Polished