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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

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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

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