Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

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

De Beers ups diamond sales as rough demand stabilises

09 april 2019

de_beers_logo.pngDe Beers, which is 85 percent-owned by Anglo American, said there was a continuation of stable demand for its rough diamonds during the third cycle of 2019, which raked in $575 million compared with $524 million, a year earlier.
The group earned $496 million from the second cycle of 2019. 
Low demand for low-quality goods forced De Beers to reduce prices 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 was planning to reduce rough supply for the rest of 2019 as it cuts production and fulfills its commitments to support local manufacturing in Africa, according to Rapaport.
Its production was expected to drop as the Victor mine in Canada shuts down and the Venetia operation in South Africa moves from open-pit to underground mining.
De Beers produced 35.3 million carats in 2018 compared to 33,5 million carats produced in 2017.
It projected output of 31 million to 33 million carats this year.

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