“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

22 april 2019

Synthetic diamond wholesale prices down 60% – De Beers

01 march 2019

De Beers said wholesale prices for synthetic diamonds eased by up to 60% since the group commenced selling the laboratory-grown stones for jewellery last September.
Reuters quoted De Beers chief executive Bruce Cleaver as saying that margins for the sector were projected to continue falling as improved technology increases the quality and volume.
"The margins that were out there are not sustainable," he said. "I like to compare it to a flat screen TV. The first ones were very expensive and the quality was poor." 

                       Image credit: Lightbox

De Beers’ Lightbox brand was expected to sell 20,000 ct by the end of 2019, although the group invested in a synthetic diamond factory in the US state of Oregon, which had the capacity of producing more than half a million rough carats a year when fully operational next year.
De Beers’ objective when it set up Lightbox was to differentiate diamonds grown in a laboratory from the natural stones.
Cleaver said synthetic diamonds were not eroding the price of natural stones.
"It's a perfectly legitimate business. It's just a different business," he said of laboratory-grown diamonds.

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