African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

The cost of exploration in Russia is the most expensive in the world - AGD Diamonds

14 may 2019

Talking about the cost of diamond exploration in Russia and in the world, Viktor Ustinov, Advisor to General Director, AGD Diamonds, said that, according to the estimates from open source data, in 2001-2016 the cost of exploration of one carat in Russia was the highest in the world and amounted to $80-85 per carat, while the average realised price was about $110 per carat. 

Image credit: AGD Diamonds

“Let me give you some figures that eloquently demonstrate the proportions of the exploration costs of 1 carat since 2001: in Russia - 75%, in Botswana - 10%, in Canada - 9.5%, in Angola - about 1%,” said Viktor Ustinov.
The similar figures of the main diamond-mining countries for the period under review are much lower than those in Russia. In Botswana, for example, exploration costs are $17–18 per carat, with an average released price of $184 per carat; in Canada, the cost of prospecting is $10–12/ct, while the selling price per carat is $112; in Angola - $15 per carat (excluding the Luaxe deposit) at an average released price of $ 121/ct.
AGD Diamonds develops the Grib diamond deposit in the Arkhangelsk Province, Russia.

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