Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Increase in demand from India fails to boost De Beers rough sales

05 march 2019

de_beers_logo.pngDe Beers, which is 85 percent-owned by Anglo American, said the overall demand for lower value rough diamonds remained subdued as its second sales cycle of 2019 dropped 13.9% to $490 million compared with $563 million, a year earlier.
De Beers chief executive Bruce Cleaver said they recorded an increase in demand from India as factories begin to restock, despite the weak demand for lower value rough stones.
The group raked in $500 million from the first cycle of 2019.
De Beers reduced prices of low-quality diamonds at its ninth rough sale in 2018 by about 10 percent.
It also took an unordinary step last September of allowing its customers to refuse to buy some lower-quality stones.
The group last had major price cuts in early 2016 amid a credit crunch across the industry and weak demand in China.
De Beers produced 35.3 million carats in 2018 compared to 33,5 million carats produced in 2017.

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