New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

Today

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

At IDE, we encourage innovation throughout the bourse and have even opened a technological incubator to host start-ups - Yoram Dvash

A first generation diamantaire, Yoram Dvash founded ‘Y Dvash Diamonds Ltd’ in 1991 in Israel. While the company grew and made progress under his leadership, Dvash joined industry organizations such as the Israel Diamond Manufacturers Association (IsDMA)...

09 january 2019

Cooperation and collaboration are the development trend of today

Pavel Grankin runs the Slava Group of companies and holds the Slava trademark (‘Slava’ means ‘Glory’ in Russian). He has graduated from the Mozhaisky Military Space Academy. He did his military service at the Plesetsk Сosmodrome from 1987 to...

04 january 2019

De Beers speaks on Zim invitation to explore for diamonds again

De Beers’ exploration team landed in Zimbabwe in 1993 and left in 2006, however, they first prospected for diamonds in Marange in the late 1990s. Harare, under the leadership of the then president Robert Mugabe, alleged that De Beers looted diamonds...

24 december 2018

De Beers rough sales slide again

17 october 2018
news_26072018_debeers.pngAnglo American said the value of rough diamonds sold by De Beers dropped to $475 million during the eighth cycle of 2018 compared to $503 million recorded in the seventh cycle.
The value of the seventh sale, which was initially set at $503 million, was also a 5.6 percent decline from the sixth sale value of $533 million.
Although the value of diamonds sold during the period under review was still provisional, it was a 26,3 percent jump when compared with $376 million realised, a year earlier.
“While the Rupee-Dollar exchange rate has impacted demand for lower value categories, we continue to see steady overall demand for De Beers Group rough diamonds, reflecting ongoing consumer demand for diamond jewellery in the US,” said group chief executive Bruce Cleaver.
De Beers, which was 85 percent-owned by Anglo American, gave diamond buyers an opportunity to re-phase the allocation of some smaller, lower value rough stones.
Bloomberg had at the time cited unnamed sources as saying that the market had been hurt by too much supply, lower profit margins in major cutting centers such as Surat in India and the depreciation of the Indian rupee.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished