The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

ALROSA’s sales decreased by 44% in January 2019 compared with last year

12 february 2019
alrosa_logo.jpgThis last January, ALROSA Group’s rough sales reached $ 278.2 million, while its polished sales were pegged at $ 3.4 million, bringing the Group’s total revenue to $ 281.5 million, which is -44% compared with January 2018, when its sales amounted to $504.5 million ($499 million in rough sales and $5.5 million in polished sales). The company reported this in a trade update distributed on Tuesday.
The total sales of ALROSA in December 2018 and January 2019 decreased by 17% compared with December 2017 and January 2018. The Russian diamond miner earned $ 601.9 million in December 2018 and January 2019, while it raked in $ 727 million in the same period in 2017 and 2018.
At the same time, the company mentioned that its cumulative sales in December 2016 and January 2017 stood at $ 537 million.
“In January, market activity was lower than usual. After active restocking at the midstream in December 2018 (our December sales were up 20% qoq and up 46% yoy), our January sales came lower. At the same time combined sales in December 2018 and January 2019 reached three years average number of $601.9 million. Sales in the diamond market are always cyclical, and apparently, we are seeing the expected correction after the peak values in previous periods,” Yury Okoemov, ALROSA Deputy CEO, noted.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg