GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

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

Macroeconomic uncertainty, Indian holiday force De Beers rough diamond sales downwards

22 may 2019

de_beers_logo.pngDe Beers, which is 85 percent-owned by Anglo American, said demand for its rough diamonds was weak during the fourth cycle of 2019, which raked in $415 million compared with $554 million, a year earlier. 
The group earned $581 million from the third cycle of 2019.  
"Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period,” said De Beers chief executive Bruce Cleaver.
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 also expected to reduce rough supply for the rest of 2019 as it cuts production and fulfills its commitments to support local manufacturing in Africa.
The Voorspoed mine closed at the end of 2018, Victor mine was now depleted, and there was a temporary reduction in availability from Venetia mine as it transitions from an open pit to underground operation. 
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